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Реферат A Contract for the Development and Production from the Field in accordance with the provisions herein contained. Term of contract and conduct of Petroleum operations. Books of account, accounting and audit. Liability and insurance, laws and regulations.

Информация:

Тип работы: Реферат. Предмет: Ин. языки. Добавлен: 27.04.2009. Сдан: 2009. Уникальность по antiplagiat.ru: --.

Описание (план):


2
Contract #
ARTICLE 1. DEFINITIONS
ARTICLE 2. SCOPE OF CONTRACT
ARTICLE 3. TERM OF CONTRACT
ARTICLE 4. SIGNATURE BONUS
ARTICLE 5. RELINQUISHMENT
ARTICLE 6. MINIMUM WORK AND EXPENDITURE OBLIGATIONS
ARTICLE 7. STATE BODY'S ASSISTANCE
ARTICLE 8 TERMINATION
ARTICLE 9 - CONDUCT OF PETROLEUM OPERATIONS
ARTICLE 10. GAS
ARTICLE 12. APPROVAL PROCEDURE
ARTICLE 13 JOINT MANAGEMENT COMMITTEE
ARTICLE 14. DATA AND SAMPLES
ARTICLE 15. REPORTS AND RECORDS
ARTICLE 16. ACCESS AND INSPECTION
ARTICLE 17. MEASUREMENT, TRANSPORT AND DELIVERY
ARTICLE 18. COST RECOVERY AND PRODUCTION SHARING
ARTICLE 19. VALUATION OF COMMERCIAL OIL
ARTICLE 20. BOOKS OF ACCOUNT, ACCOUNTING AND AUDIT
ARTICLE 21. EXCHANGE AND CURRENCY CONTROL
ARTICLE 22. TITLE TO ASSETS
ARTICLE 23. TAXES
ARTICLE 24. LIABILITY AND INSURANCE
ARTICLE 25. IMPORT AND EXPORT
ARTICLE 26. TRAINING
ARTICLE 27. PARTICIPATION
ARTICLE 28. ASSIGNMENT
ARTICLE 29. LAWS AND REGULATIONS
ARTICLE 30. LOCAL GOODS AND SERVICES
ARTICLE 31. FORCE MAJEURE
ARTICLE 32. ENTIRE AGREEMENT
ARTICLE 33. AMENDMENTS
ARTICLE 34. CONFIDENTIALITY
ARTICLE 35. TITLES AND HEADINGS
ARTICLE 36. LANGUAGES
ARTICLE 37. CONTRACTOR'S OFFICE IN
ARTICLE 38. GOVERNING LAW
ARTICLE 39. SETTLEMENT OF DISPUTES - ARBITRATION
ARTICLE 41. COMING INTO FORCE
This Contract is made, signed and entered into, on this __ day of __ 200_ by and between:
(PART 1), (State Body of State X) (hereinafter referred to as "State Body") of the one part, and
(PART 2) being a legal entity, established and existing under the laws of the (Y) with office in ______________,
(PART 3) being a legal entity, established and existing under the laws of the (Z) with office in ______________
being collectively referred to hereinafter as "Contractor", of the other part.
State Body and Contractor are referred to hereinafter either individually as "Party" or collectively as "Parties".
WHEREAS, (State X) is the sole owner of all natural resources within its territory and offshore areas and has the exclusive right to explore, develop, extract, exploit and utilize the natural resources there from; and
WHEREAS, the State Body of Oil is the Governmental body concerned and entrusted with 9 exploration, development and production of Petroleum within (State X): and
WHEREAS, the Contractor is of sound financial standing and possesses technical competency to can out development and production and generally all and any Petroleum Operations as hereinafter defined: and
WHEREAS, the Parties mutually declare that they have the power authority and desire to enter into this Development and Oil Production Contract in relation to the Second Stage of (X oilfield) as defined herein.
NOW THEREFORE, and in consideration of the premises and the mutual covenants hereinafter set out, the Parties agreed as follows:

ARTICLE 1. DEFINITIONS

Except as specifically provided otherwise herein, any reference to an Article, Sub-Article, Annex or Addendum shall be construed as reference to an Article, Sub-Article, Annex or Addendum of this Contract.

In this Contract words in the singular include the plural and vice versa, and except where the context otherwise requires, the following terms shall have the meanings set out as follows:

1.1 "Accounting Procedure" means the accounting procedures and requirements set out in Annex X.

1.2 "Affiliate" means, with respect to any Company, any legal entity which:

Controls that Company;

is controlled by that Company;

or is controlled by a legal entity which in its turn controls or is controlled by that Company.

To "control" means to determine and pursue the policy of an organization, enterprise or legal entity by way of direct or indirect control over 50% (fifty per cent) or more of the shares or votes in such organization.

1.3 "Appraisal" or "Appraisal Operations" shall include (but not be limited to) such geological, geophysical, aerial and any other surveys and any interpretation of data relating thereto and the drilling of such shot-holes, core holes, stratigraphic rests, holes for the appraisal of Petroleum and other related holes and wells, the production testing and the purchase or acquisition of such supplies, materials and equipment therefore.

1.4 "Approval" or "Approved" means the approval of the State Body in written form.

1.5 "Average Daily Production" means the total cumulative production of Crude Oil for a certain period of time divided by the number of calendar days in that period of time.

1.6 "Barrel" means a quantity consisting of forty-two (42) United States Gallons under one (1) atmosphere of pressure and temperature of sixty (60) degrees Fahrenheit.

1.7 "Budget" means itemized expenditures and costs of Petroleum Operations related to an Annual Work Program.

1.8 "Calendar Year" means a period of twelve (12) consecutive months commencing with the first day of January and ending the last day of December, according to the Gregorian calendar.

1.9 "Contract Area" means the development and production area covered by this Contract, as described in Annex X and outlined in the map which constitutes Annex Y. In case of difference between Annex X and Annex Y the coordinate description in Annex X shall prevail.

1.10 "Contractor" means, at the Effective Date, (PART 1) and (PART 2), and at any time thereafter shall include their legal successors and permitted assigns.

1.11 "Crude Oil" means all hydrocarbons regardless of gravity which are produced and

saved from the Field in liquid state at atmospheric pressure, including asphalt, tar and the liquid hydrocarbons known as distillates and condenses obtained from Natural Gas.

1.12. "Commercial Oil" means part of the Net Production transported, commingled with other crudes, measured at the Delivery Measurement Point (DMP) and delivered to the Contractor at the Delivery Point in accordance with the provisions of Articles 18 and 19 and Addendum Two.

1.13. "Commercial Oil Price" means the price of one Barrel of Commercial Oil Free on Board (FOB, Incoterms-2000) at the Delivery Point, computed in accordance with the provisions of Article 19.

1.14. "Delivery Point" or "DP" means the point(s) at the loading flanges of the (X) loading terminal(s) in the Arabian Gulf where Contractor's entitlement of Commercial Oil under this Contract shall be delivered.

1.15 "Development Operations" means any and all operations, including primary and subsequent (secondary, tertiary or other) recovery projects and pressure maintenance, conducted with a view to developing the Field including, but without limitation: the drilling of evaluation, appraisal, production and injection wells; the engineering, building and erecting or laying of production plants and construction of the facilities (such as without limitation: separators;

Compressors; generators; pumps and tankage; gathering lines; pipelines; and all facilities required to be installed for production, pressure maintenance, and treatment, storing and transporting of Petroleum, and loading the same into seagoing tankers); the obtaining of such materials, equipment, machinery, articles and supplies as may be required or expedient for the above activities; and all auxiliary operations, activities; and services required or expedient for the better conduct or result of the above activities, all in accordance with sound oil field and economic practices.

1.16. "Development Plan" means scheduled programmer and cost estimate specifying the Development Operations required to develop and/or increase the production capacity of the Field, which includes Initial Field Development Plan, General Field Development Plan and subsequent revisions thereof.

1.17. "Local Currency" means the currency of (State X).

1.18. "Dollar" or "USD" means dollar of the United States of America.

1. 19. "Effective Date" means the date when this Contract comes into force according to Article 41

1. 20. "Excluded Risks": mean such events as war, foreign invasion, military actions (may be not connected with declaration of war), civil war, insurrection, revolution, rebellion, strikes, disturbances, confiscation, requisition, destruction - in case if such events:

take place on the territory of (State X);

are not a result of the Contractor's and/or the Operator's activities;

are not covered by insurance.

1.21. "Field" means the part of (X oilfield) limited to the reservoirs defined in Section X of Annex X, the area limits of which shall be defined as and when the Appraisal work is carried out, all within the Contract Area and subject to the provision of Article 5 hereof.

1.22. "Government" means the Government of (State X).

1.23. "Libor" - means the fixed interbank rate proposed for a three months deposits in US Dollars published by the London newspaper "Financial Times" on the date when the interests start accumulating.

In case such rate was not published by the "Financial Times" on the date when the interests start accumulating, the latest rate published within the seven working days prior to the required date shall be used.

In case Libor rate cannot be detected by the above method the London interbank rate proposed for a three months deposits in US Dollars indicated in article "The Monetary Market Rates" of the "Wall-Street Journal" (New-York) shall be applied.

1.24. "Measurement Point" means the place (s) at which volumes and qualities of Crude Oil produced, received, transmitted or delivered shall be measured.

1.25. "Minimum Work Obligations" means the minimum commitments undertaken by Contractor under Article 6 and Annex X.

1.26. "Natural Gas" or "Gas" means hydrocarbons that are in a gaseous phase at atmospheric conditions of temperature and pressure.

1.27. "Net Production" means Crude Oil, measured'at the PMP and transferred to the Transporter at the Transfer Point less transportation. losses, linefill and terminal dead stock computed in accordance with Addendum Two and the subsequent Transportation Agreement.

1.28. "Operator" means the entity designated pursuant to Article 9 hereof to conduct Petroleum Operations.

1.29. "Participating Interest" - means, with respect to (PART 1) and (PART 2) comprising Contractor, its percentage interest as defined in Article 27 and Addendum X in rights, privileges, obligations and liabilities under the Contract.

1.30. "Petroleum" means all hydrocarbons including liquid and gaseous hydrocarbons produced and saved from the Field under this Contract.

1.31. "Petroleum Costs" means all expenditures incurred and payments made by Contractor and/or Operator in connection with or in relation to Petroleum Operations preparing and their realization including but not limited to expenses (damage, loss, deterioration) caused by Excluded Risks, social expenses for the personnel, food and medicine purchases except as otherwise stipulated herein determined in accordance with the provisions of this Contract and Annex X.

1.32. "Petroleum Operations" means all operations in connection with Appraisal, Development, and Production Operations and other activities related thereto including technical documentation preparing, under this Contract.

1.33. "Production Operations" means any and all operations related to production of Petroleum including (but not limited to) workovers, stimulation's, operating, staffing, supervising, servicing, repairing and maintaining of any and all wells, plan и т.д.................


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