Common use of Oil and Gas Losses and Burning of Natural Gas Clause in Contracts

Oil and Gas Losses and Burning of Natural Gas. 17.12. Oil and Gas losses occurred under the responsibility of the Contractor, as well as burning of Natural Gas in flares, shall be deducted from the share of the Profit Oil to which the Contractor is entitled after the Production Sharing.

Oil and Gas Losses and Burning of Natural Gas. 17.1217.13. Oil and Gas losses occurred under the responsibility of the Contractor, as well as burning of Natural Gas in flares, shall be deducted from the share of the Profit Oil to which the Contractor is entitled after the Production Sharing.