Best International Petroleum Industry Practices definition

Best International Petroleum Industry Practices means all those uses and practices that are, at the time in question, generally accepted in the international petroleum industry as being good, safe, economical, environmentally sound and efficient in exploring for, developing, producing, processing and transporting Petroleum. They should reflect standards of service and technology that are either state-of-the-art or otherwise appropriate to the operations in question and should be applied using standards in all matters that are no less rigorous than those in use by the Companies in other global operations.
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Best International Petroleum Industry Practices means practises in accordance with the most up to date international standards that are generally accepted in the international petroleum industry for the conduct of petroleum activities taking into account the relevant safety, economic, technological and environmental aspects;
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Best International Petroleum Industry Practices means all those uses and practices that are, at the time in question, generally accepted in the international petroleum industry as being good, safe, economical, environmentally sound and efficient in exploring for, developing, producing, processing and transporting Petroleum. They should reflect standards of service and technology that are either state-of-the-art or otherwise appropriate to the operations in question and should be applied using standards in all matters that are no less rigorous than those in use by the Companies in other global operations, and should take into consideration the standards requested by ROC / IraqiMinistry of Oil.
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Examples of Best International Petroleum Industry Practices in a sentence

  • All Abandonment and site restoration activities shall be performed in accordance with Best International Petroleum Industry Practices.

  • In general, Contractor shall make available appropriate managerial and technological skills and personnel to the FOD with a view to ensuring that Petroleum Operations can be performed in accordance with Best International Petroleum Industry Practices.

  • Operation and calibration of the metering equipment and procedures for measurement and sampling shall be in accordance with Best International Petroleum Industry Practices.

  • For the avoidance of doubt, if Contractor fails substantially to achieve the Plateau Production Target or Plateau Production Period for reasons including inadequate investment and/or failure to observe and apply Best International Petroleum Industry Practices, ROC may consider this to be a failure within the context of this Article and exercise its rights under this Contract.

  • It is understood that such off take should not be detrimental to the prompt conduct of oil field operations according to Best International Petroleum Industry Practices.

  • As soon as the imposed production curtailment is over, the Parties shall meet to agree in good faith on a possible revised Field production schedule with a view to compensating Contractor as soon as practicable for lost revenue, as a result of the reduction, all in accordance with Best International Petroleum Industry Practices.

  • Contractor and Operator shall open and maintain all accounts and records necessary to document in reasonable detail and in separate accounts the transactions relating to Petroleum Operations, in accordance with generally accepted and recognised accounting principles consistent with Best International Petroleum Industry Practices, all in accordance with and subject to the provisions of this Contract.

  • For the avoidance of doubt, if Contractor fails substantially to achieve the Plateau Production Target or Plateau Production Period for reasons including inadequate investment and/or failure to observe and apply Best International Petroleum Industry Practices, NOC may consider this to be a failure within the context of this Article and exercise its rights under this Contract.

  • In general, Contractor shall make available to the JOC its managerial and technological skills and personnel to ensure that Petroleum Operations are performed in accordance with Best International Petroleum Industry Practices.

  • The Development Plan shall be designed to carry out an optimized and effective Development of the Commercial Discovery consistent with Best International Petroleum Industry Practices.


More Definitions of Best International Petroleum Industry Practices

Best International Petroleum Industry Practices means best available practices that are global general accepted as good, safe, transparent and efficient in carrying out upstream activities;
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Best International Petroleum Industry Practices means practices in accordance with the most up to date international standards that are generally accepted in the international gas industry for the conduct of gas storage activities taking into account the relevant safety, economic, technological and environmental aspects;
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Related to Best International Petroleum Industry Practices

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged in a similar type of undertaking under the same or similar circumstances.

  • Proper practices means those set out in The Practitioners’ Guide

  • New Jersey Stormwater Best Management Practices (BMP) Manual or “BMP Manual” means the manual maintained by the Department providing, in part, design specifications, removal rates, calculation methods, and soil testing procedures approved by the Department as being capable of contributing to the achievement of the stormwater management standards specified in this chapter. The BMP Manual is periodically amended by the Department as necessary to provide design specifications on additional best management practices and new information on already included practices reflecting the best available current information regarding the particular practice and the Department’s determination as to the ability of that best management practice to contribute to compliance with the standards contained in this chapter. Alternative stormwater management measures, removal rates, or calculation methods may be utilized, subject to any limitations specified in this chapter, provided the design engineer demonstrates to the municipality, in accordance with Section IV.F. of this ordinance and N.J.A.C. 7:8-5.2(g), that the proposed measure and its design will contribute to achievement of the design and performance standards established by this chapter.

  • Best management practice or "BMP" means schedules of activities, prohibitions of practices, including both structural and nonstructural practices, maintenance procedures, and other management practices to prevent or reduce the pollution of surface waters and groundwater systems from the impacts of land-disturbing activities.