Examples of Cost Recovery Natural Gas in a sentence
To the extent that in a Calendar Year the recoverable costs or expenses related to the Contract Area exceed the amount allowable for Cost Recovery Crude Oil or Cost Recovery Natural Gas from the Contract Area, for such Calendar Year, then the excess shall be carried forward for recovery in the next succeeding Calendar Years until fully recovered, but in no case after termination of this Contract.
The remaining Available Petroleum including any portion of Cost Recovery Crude Oil or Cost Recovery Natural Gas not required to cover costs hereinafter referred to as "Profit Crude Oil" and/or "Profit Natural Gas" and collectively as "Profit Petroleum") shall be allocated between the Government and Contractor.
Mr R Smith, Chair of Children’s Services Committee moved the report.
Subject to the Accounting Procedure and the auditing provisions of the Contract, Contractor shall recover costs and expenses duly verified in accordance with Article 17 of the Contract in respect of the Petroleum Operations hereunder to the extent of and out of 50% of all Available Crude Oil and/or all Available Natural Gas from the Contract Area, (hereinafter referred to as "Cost Recovery Crude Oil" and/or "Cost Recovery Natural Gas" and collectively as ―Cost Recovery Petroleum‖).
To the extent that the amount of Cost Recovery Crude Oil or Cost Recovery Natural Gas received by Contractor from the Contract Area during a Calendar Month is greater or less than the amount Contractor was entitled toreceive for that Month, an appropriate adjustment shall be made in accordance with internationally accepted accounting principles.
To the extent that in a Calendar Year outstanding recoverable Costs and Expenses related to the Contract Area exceed the value of all Cost Recovery Crude Oil or Cost Recovery Natural Gas from the Contract Area for such Calendar Year, the excess shall be carried forward for recovery in the next succeeding Calendar Years until fully recovered, but in no case after termination of the Contract.
Subject to the Accounting Procedure and the auditing provisions of the Contract, Contractor shall recover costs and expenses duly verified in accordance with Article 17 of the Contract in respect of the Petroleum Operations hereunder to the extent of and out of 55% of all Available Crude Oil and/or all Available Natural Gas from the Contract Area, (hereinafter referred to as "Cost Recovery Crude Oil" and/or "Cost Recovery Natural Gas" and collectively as ―Cost Recovery Petroleum‖).
Contractor and Georgian Oil shall be entitled to recover all Costs and Expenses incurred in respect of Petroleum Operations from a maximum of fifty percent (50%) per Calendar Year of all Available Crude Oil and Available Natural Gas from the Contract Area (hereinafter referred to as "Cost Recovery Crude Oil" and "Cost Recovery Natural Gas", as the case may warrant).
All Cost Recovery Natural Gas and Profit Natural Gas shall be sold on a jointly committed basis in accordance with Article 16 of this Contract.
Quantities of Crude Oil and/or Natural Gas allocated to Contractor and the Minister, respectively, during the Calendar Month as Cost Recovery Crude Oil, Cost Recovery Natural Gas, Profit Crude Oil and/or Profit Natural Gas.