Common use of Liquid Hydrocarbons Clause in Contracts

Liquid Hydrocarbons. During exploitation of the Contract Area, and before distributing production among the Parties, Operator shall give ECOPETROL royalties corresponding to twenty percent (20%) of the certified production of liquid hydrocarbons coming from said area. ECOPETROL, for its own risk and account, shall take the royalty production in kind from the tanks belonging to the Joint Account.

Liquid Hydrocarbons. During the exploitation of the Contract Area, and before distributing prior to the distribution of the production among corresponding to the Partiesparties, the Operator shall give ECOPETROL royalties corresponding deliver to ECOPETROL, as a Royalty, twenty percent per cent (20%) of the certified supervised production of liquid hydrocarbons coming from said such an area. ECOPETROL, for ECOPETROL on its own risk account and accountrisk, shall take the royalty production in kind from the tanks belonging of the Joint Account the percentage of production corresponding to the Joint Accountroyalty.