Working Interest Owners definition
Examples of Working Interest Owners in a sentence
The remaining gross income in Rupees can be used by foreign Working Interest Owners to pay royalties, taxes and any other payment to the Government as well as to meet other local currency Expenditures.
To acquire and furnish for the Joint Account all materials and equipment required, it shall be the duty of the Operator to make every reasonable effort to obtain such required materials and equipment on the terms and conditions most favourable to all of the Working Interest Owners and in accordance with the provisions of the Concession Agreement and the Rules.
Each Working Interest Owner shall designate its representative and alternate representative by written notice to the other Working Interest Owners stating the name and address of its representative and alternate representative.
Any Working Interest Owner having any corrections or objections to the minutes shall notify the Operator, and other Working Interest Owners thereof.
The Operator, for and on behalf of all Working Interest Owners, shall prepare, file and otherwise handle all reports, applications and returns (other than those relating to taxes based on income or profits which the Working Interest Owners are required to prepare separately) which may be required by laws, rules or regulations of the Government.
The Operator shall promptly furnish each party with a reproducible copy of all logs, geophysical data and all other geological, geophysical, drilling financial information including but not limited to reports on well tests and core analysis; provided, however, that all such data, information, and interpretations shall remain the exclusive property and confidential information of the Working Interest Owners to be based in accordance with the Rules and the Concession Agreement.
The Working Interest Owners, if more than one, may delegate to the Operator any of the rights and powers herein or otherwise granted to them.
Any Working Interest Owner shall have the right to change its address by giving the other Working Interest Owners and THE PRESIDENT a written notice thereof.
Operator's representative shall prepare minutes covering business conducted at Operating Committee meetings, copies of which shall be made available as soon as possible but in any event within fifteen (15) Days of the date of the meeting to all the Working Interest Owners through their representatives.
However, it is agreed that nothing set forth in this Article 5.3(i) shall prevent any Working Interest Owner from representing itself before any of the aforementioned bodies on matters which are appropriate and necessary, provided that such Working Interest Owner shall notify the Operator and the other Working Interest Owners prior to any such representation.