License Contract. The purpose of this License Contract is to provide for the carrying out of the Petroleum Activities by the Contractor within the Contract Area, at its sole cost and risk, in accordance with the Applicable Laws, Industry Best Practices and the terms and conditions of this Contract. The Contractor shall have the right to the onerous transfer of Produced Hydrocarbons only if the Contractor is up to date with the payments of the State Considerations established in Article 16.
Appears in 6 contracts
Sources: License Contract for the Exploration and Extraction of Hydrocarbons (Deepwater), License Contract for the Extraction of Hydrocarbons, License Contract for the Exploration and Extraction of Hydrocarbons (Deepwater)