MATERIAL AND EQUIPMENT. Material and Equipment purchased or furnished by the Contractor for use in Petroleum Operations as provided under Section 4 of this Accounting Procedure. So far as it is reasonably practical and consistent with efficient and economical operation, only such Material and Equipment shall be purchased or transferred for use in Petroleum Operations as may be required for immediate use or prudent contingent stock. The accumulation of surplus stocks shall be avoided.
Appears in 2 contracts
Samples: files.hssk.gov.az, www.bp.com
MATERIAL AND EQUIPMENT. Material and Equipment purchased or furnished by the Contractor, Operator or Sub-Contractor for use in Petroleum Operations as provided under Section 4 10 of this Accounting Procedure. So far as it is reasonably To the extent reasonable, practical and consistent with efficient and economical operation, only such Material and Equipment shall be purchased or transferred for use in Petroleum Operations as may be required for immediate use or prudent contingent stock. The accumulation of surplus stocks shall be avoided.
Appears in 2 contracts
Samples: Production Sharing Contract (Kosmos Energy Ltd.), Kosmos Energy Ltd.
MATERIAL AND EQUIPMENT. Material and Equipment purchased or furnished by the Contractor for use in Petroleum Operations as provided under Section 4 of this Accounting Procedure. So far as it is reasonably practical and consistent with efficient and economical operation, only such Material and Equipment shall be purchased or transferred for use in Petroleum Operations as may be required for immediate use or prudent contingent stock. The accumulation of surplus stocks shall be avoided.
Appears in 1 contract
Samples: Agreement
