Petroleum Operations Costs definition

Petroleum Operations Costs means Exploration Costs and/or Development and Production Costs (as the context may require) incurred by the Contractor in the carrying out of Petroleum Operations, as determined in accordance with this Contract and the Accounting Procedure.
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Petroleum Operations Costs means all the costs and expenses incurred for the purposes of Petroleum operations including both capital expenditure and Revenue Expenditure;
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Petroleum Operations Costs means, expenditures made and obligations incurred in carrying out Petroleum Operations as determined in accordance with this Agreement and the Accounting Procedure.
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Examples of Petroleum Operations Costs in a sentence

  • Any and all general, administrative and service costs, and any other Petroleum Operations Costs incurred from the approval date of any relevant Development and Production Plan, and from the commencement of funding of the Reserve Fund.

  • The Contractor shall present detailed accounts showing all Petroleum Operations Costs incurred by the Contractor over the last Calendar Year.

  • Within ninety (90) days after the end of a Calendar Year, the Contractor shall submit to the Ministry detailed accounts showing the Petroleum Operations Costs which the Contractor has incurred during such Calendar Year.

  • The Contractor shall bear all reasonable expenses incurred in such examination or audit, which shall be recoverable as Petroleum Operations Costs.

  • The Petroleum Operations Costs statement for each Quarter shall be submitted to the Ministry no later than a period of thirty (30) days after the end of each Quarter.

  • All Petroleum Operations Costs shall be classified, defined and allocated as set forth below.

  • The Contractor shall prepare a Quarterly Petroleum Operations Costs statement showing those Petroleum Operations Costs incurred by the Contractor with respect to the Contract Area, as provided under this Accounting Procedure.

  • Petroleum Operations Costs shall include premiums paid for insurance required [and approved] in accordance with the Contract.

  • All Petroleum Operations Costs will be classified, defined, and allocated as stated below.

  • These Petroleum Operations Costs will be recoverable and deductible as tax expenses provided the Contractor has duly withheld withholding tax at source.


More Definitions of Petroleum Operations Costs

Petroleum Operations Costs means Exploration Costs and/or Development and Production Costs (as the context may require) incurred by the Contractor in the carrying out of Petroleum Operations, as determined in accordance with this Contract and the Accounting Procedure. Petroleum Regulations means all regulations promulgated by the Ministry pursuant to the Hydrocarbons Law. Quarter means a period of three (3) consecutive months beginning on 1 January, 1 April, 1 July or 1 October and ending on 31 March, 30 June, Reserve Fund has the meaning ascribed to it in Article 24.3.1.
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Petroleum Operations Costs means the costs and expenses incurred and paid by Contractor for the purposes of conducting Petroleum Operations under this Agreement, as set forth in Appendix I hereto.
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