Examples of Syncrude Participants in a sentence
The Syncrude Participants agreed to pay royalties based on the greater of 25 percent of net deemed bitumen revenues, or one percent of gross deemed bitumen-based revenues, plus an additional royalty of up to$975 million ($358 million net to the Trust) for the period January 1, 2010 to December 31, 2015.
The agreement sets out the requirements for unanimous agreement of the Syncrude Participants to undertake major expansions to the Syncrude Project or to change the operator of the Project.
The agreements set out the basis upon which the Syncrude Participants will pay Crown royalties to the Alberta government in respect of production from various leases in the Syncrude Project.
This agreement outlines and governs the basis upon which the various owners of the Syncrude Project created the Syncrude Joint Venture and how the Syncrude Participants authorize and govern the operation of such project by SCL.
Through various amendments, the Alberta government agreed to a maximum royalty payable by the Syncrude Participants in respect of production from various leases in the Syncrude Project as to the greater of one percent of the gross revenues and 25 percent of net revenues less allowed applicable operating, non- production and capital costs up to and including December 31, 2015.
In a state with a one-of-a-kind legislative agency that controls executive functions, such as HR, this seems especially relevant.
The Aurora South mine is classified as probable rather than proved in view of the significance of the associated development capital, the uncertainty that major capital spending will commence within the next three years and the requirement for the approval by the Syncrude Participants.