Good Oilfield Practices definition

Good Oilfield Practices means all of those things that are generally accepted in the international petroleum industry as good, safe and efficient in the carrying out of Exploration or, as the case may be, Development Operations and that an experienced, reasonable and prudent operator, engaged in a similar activity under similar circumstances elsewhere, would use.

Good Oilfield Practices means any practices which are generally applied by persons involved in the exploration or production of petroleum in other countries of the world as good, safe, efficient and necessary in the carrying out of exploration operations or production operations;

Good Oilfield Practices has the meaning assigned to it in section 1(i) of the Petroleum Act;

Examples of Good Oilfield Practices in a sentence

• The Company shall measure or weigh all Petroleum Produced and Saved from each Licence Area by a method or methods customarily used in Good Oilfield Practices and from time to time approved by the Minister.

• In rendering his decision, the expert shall do so within the context of the provisions of this Agreement, the Act and the standards of Good Oilfield Practices.

• In case the Rules do not provide for a specific operation, the normal Good Oilfield Practices shall be followed.

• PanAfrican Tanzania shall notify the Ministry and TPDC immediately in the event of any emergency or accident affecting the environment and shall take such action as may be prudent and necessary in accordance with Good Oilfield Practices in such circumstances.

• TPDC shall be responsible for the payment of any duty required as a result of any such sale by PanAfrican Tanzania to TPDC; provided, however, that in the event TPDC does not desire to purchase the fixed assets used by PanAfrican Tanzania in its Petroleum Operations, PanAfrican Tanzania shall remove such fixed assets in a manner that will conform with Good Oilfield Practices and will leave the environment of the Contract Area in a condition that complies with the Laws of Tanzania.

More Definitions of Good Oilfield Practices

Good Oilfield Practices means all those things that are generally accepted in the international petroleum industry as good, safe, economical and efficient in exploring for and producing petroleum.

Good Oilfield Practices means good international petroleum industry practices with such degree of diligence and prudence reasonably and ordinarily exercised by experienced parties engaged in a similar activity under similar circumstances and conditions.

Good Oilfield Practices means practices followed in Petroleum Industry as defined in the Rules.

Good Oilfield Practices means all those things that are generally accepted as good, safe and efficient in the carrying on of prospecting for petroleum or, as the case may be, operations for the production of petroleum;

Good Oilfield Practices means all those things that are generally accepted as good, safe and efficient in the carrying on of exploration or development operations;

Good Oilfield Practices has the meaning established in the Gas Agreement. “GOT” means the Government of the United Republic of Tanzania.

Good Oilfield Practices means all those things that are generally accepted as good, sa�e and efficient in the carrying on of prospect- ing for petroleum or, as the case may be, operations for the production of petroleum;