2General Research and Development Sample Clauses

2General Research and Development. The Operator's cost for General Research and Development may be charged to the Joint Account in proportion to the exploration, development and operating cost of the year in accordance with the following provisions: Projects which are not subjected to unlimited audit may be charged to the Joint Account according to the following per cent rates and limits based on annual costs except for area fees, CO2 tax, NOX tax when directly imposed on the Joint Operations, purchase of gas for injection and tariffs paid in connection with the processing of petroleum on third party field installations: Exploration cost: 0 - 300 million NOK 2.5% Operating cost: 0 - 1000 million NOK 2.7% 1000 - 2500 million NOK 1.0% Development cost: 0 - 1000 million NOK 2.5% 1000 - 2000 million NOK 1.0% 2000 - 3500 million NOK 0.5% Tariffs received for the processing of other companies’ petroleum and other revenues that are credited to the Joint Account shall not be deducted when calculating the above-mentioned cost. Exploration cost means all costs charged to the Joint Account as exploration cost by decision of the management committee, i.e. normally costs until an approved development plan is established, as well as all costs outside the area comprised by the development plan.
Sample 1
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Related to 2General Research and Development

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