Common use of Gross Production Value of the Production Sharing Agreement Clause in Contracts

Gross Production Value of the Production Sharing Agreement. 2.1. The Gross Production Value of the Production Sharing Agreement, based on which the Profit Oil shall be defined, shall be calculated for each Development Module, according to the following formula: VBPm = VPFp,m ⋅ PRp,m + VPFg,m ⋅ PRg,m Where, GPVm; Gross Production Value of The Production Sharing Agreement in month “m”; VIPo,m: Volume of Inspected Production of Oil of the Production Sharing Agreement for month “m”, in cubic meters; RPo, m: Reference Price of Oil in month “m”; VIPo,m: Volume of Inspected Production of Oil of the Production Sharing Agreement for month “m”, in cubic meters; RPg, m: Reference Price of Natural Gas in month “m”.

Gross Production Value of the Production Sharing Agreement. 2.1. The Gross Production Value of the Production Sharing Agreement, based on which the Profit Oil shall be defined, shall be calculated for each Development Module, according to the following formula: VBPm = VPFp,m ⋅  PRp,m + VPFg,m ⋅  PRg,m Where, GPVm; Gross Production Value of The Production Sharing Agreement in month “m”; VIPo,m: Volume of Inspected Production of Oil of the Production Sharing Agreement for month “m”, in cubic meters; RPo, m: Reference Price of Oil in month “m”; VIPo,m: Volume of Inspected Production of Oil of the Production Sharing Agreement for month “m”, in cubic meters; RPg, m: Reference Price of Natural Gas in month “m”.