Joint Operating Company definition

Joint Operating Company or “JOC” means the company to be established in the Republic of Iraq pursuant to Article 9 for taking over the conduct of Petroleum Operations in accordance with Addendum Three.

Examples of Joint Operating Company in a sentence

  • The two fields are jointly managed through Goldpetrol Joint Operating Company Inc.

  • In Vietnam, Pharos has a 30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang Long Joint Operating Company.

  • The operator may be one of the contractors or a newly incorporated entity, a Joint Operating Company (JOC).

  • Terms defined in the Contract shall have the same meanings for the purposes of this Heads of Charter of Joint Operating Company Agreement “Charter”).

  • The Joint Operating Company shall have, to the extent authorized by Contractor, the ability to subcontract any day to day work required to implement any Annual Work Programme.

  • The responsibilities of the Joint Operating Company shall be the management, co-ordination, implementation and conduct on behalf of Contractor of the day to day Petroleum Operations, and such other functions, as may be delegated to it from time to time by Contractor.

  • MED Songhai owns 2.5% in AGM Gibraltar, the parent company of AGM Petroleum Ghana which has a participating interest of 68% in the Joint Operating Company.

  • For purposes of this Accounting Procedure any reference to Contractor shall be deemed to include the Joint Operating Company, (or any other entity established by Contractor pursuant to Article VI), Contractor Parties and their respective Affiliates, as the context may imply.

  • Decisions of the Joint Operating Company shall be made by the Contractor Parties in accordance with any voting mechanism as agreed among the Contractor Parties.

  • Contractor shall have the right to substitute or to establish additional entities to undertake some or all of the responsibilities of the Joint Operating Company with respect to Petroleum Operations.

Related to Joint Operating Company

  • Joint Operations means those operations and activities carried out by Operator pursuant to this Agreement, the costs of which are chargeable to all Parties.

  • Joint Operating Agreement (JOA) means the operating and participating agreement between the Parties constituting the Contractor that governs their operational activities, obligations and responsibilities under this Contract,

  • Operating Company has the meaning set forth in the preamble.

  • independent operator means undertakings other than authorised dealers and repairers which are directly or indirectly involved in the repair and maintenance of vehicles, in particular repairers, manufacturers or distributors of repair equipment, tools or spare parts, publishers of technical information, automobile clubs, roadside assistance operators, operators offering inspection and testing services, operators offering training for installers, manufacturers and repairers of equipment for alternative fuel vehicles;

  • Generating Company means any company or body corporate or association or body of individuals, whether incorporated or not, or artificial juridical person, which owns or operates or maintains a generating station;

  • Operating Companies means, collectively, the Creekside Operating Company, the Mentone Operating Company and the Yucaipa Operating Company. “Operating Company” means any of the Operating Companies.

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Development Operations means operations conducted in accordance with the Development Plan and shall include, but not be limited to the purchase, shipment or storage of equipment and materials used in developing Petroleum accumulations, the drilling, completion and testing of Development Xxxxx, the drilling and completion of Xxxxx for Gas or water injection, the laying of gathering lines, the installation of offshore platforms and installations, the installation of separators, tankages, pumps, artificial lift and other producing and injection facilities required to produce, process and transport Petroleum into main Oil storage or Gas processing facilities, either onshore or offshore, including the laying of pipelines within or outside the Contract Area, storage at Delivery Point(s), the installation of said storage or Gas processing facilities, the installation of export and loading facilities and other facilities required for the development and production of the said Petroleum accumulations and for the delivery of Crude Oil and/or Gas at the Delivery Point and also including incidental operations not specifically referred to herein but required for the most efficient and economic development and production of the said Petroleum accumulations in accordance with modern oilfield and petroleum industry practices.

  • Market Operator means a person or persons who manages and/or operates the business of a regulated market. The market operator may be the regulated market itself;

  • airport operator A natural or legal person authorized to manage or operate an airport. “Airport Tax” It is the amount charged to a Passenger for the use of the airport facilities that can be collected by THE CARRIER with prior authorization, either on the ticket or at each airport, and must be paid by the Passenger. “Airway Ticket or Ticket” (GENERAL DEFINITION). It is the document issued by THE CARRIER or its Authorized Agent as written proof of the transportation agreement. The term that will be used in this Agreement is ticket.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • Unit operating hour or "hour of unit operation" means an hour in which a unit combusts any fuel.

  • co-operative means a co-operative registered in terms of section 7 of Cooperatives Act, 2005 (Act No. 14 of 2005)

  • Railway Operation means the construction and operation under this Agreement of the relevant Railway and associated access roads and Additional Infrastructure (if any) within the relevant Railway Corridor and of the associated Lateral Access Roads, in accordance with approved proposals;

  • Network Operating Committee means a group made up of representatives from the Network Customer(s) and the Transmission Provider established to coordinate operating criteria and other technical considerations required for implementation of Network Integration Transmission Service under Tariff, Part III.

  • Joint Venture Company means any Subsidiary of the Company or any other Person of which 50% or less than 50% of the outstanding Voting Stock or participation is held by the Company or its Subsidiaries, whose Equity Interest is held directly or indirectly by the Company and one or more third parties that are not Affiliates of the Company for the purpose of directly or indirectly bidding new projects, including such Subsidiaries or Persons of the Company whose activities are governed by a joint venture agreement with one or more third parties that are not Affiliates of the Company.

  • economic operators means the manufacturer, the authorised representative, the importer and the distributor;

  • Market Operations Center means the equipment, facilities and personnel used by or on behalf of a Market Participant to communicate and coordinate with the Office of the Interconnection in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region.

  • economic operator means any natural or legal person or public entity or group of such persons and/or entities which offers the execution of works and/or a work, the supply of products or the provision of services on the market;

  • Farming operation means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.

  • Interconnected Entity means either the Interconnection Customer or the Interconnected Transmission Owner; Interconnected Entities shall mean both of them. Interconnected Transmission Owner:

  • Account Operator means a bank or other party duly authorised to operate as an account operator pursuant to the Financial Instruments Accounts Act and through which a Bondholder has opened a Securities Account in respect of its Bonds.

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Partnership Group Member means any member of the Partnership Group.

  • Pipeline means any pipe, pipes, or pipelines used for the intrastate transportation or transmission of any solid, liquid, or gaseous substance, except water.

  • Condominium Corporation means a condominium or strata corporation established under provincial legislation.