Additional Royalty. (A) Licensee shall pay to Government the following Additional Royalty as a percentage of the value of the recovered reserves on the basis of Gross Total Daily Production in Barrels of oil equivalent per day (BOEPD) for each Contract Area, such Gross Total Daily Production defined as the total output of crude oil (including liquid petroleum gasbut excluding gas which is provided for Article 10.2.1(B)) less all water and sediments produced and all amounts of hydrocarbons re-injected into the Petroleum Reservoir.
Appears in 2 contracts
Sources: Production Sharing Agreement, Production Sharing Agreement