Common use of Production, Distribution Clause in Contracts

Production, Distribution. 14.2.1 After deducting the royalty percentage, the remaining Hydrocarbons produced in each Commercial Field belong to the parties thus: Fifty percent (50%) for ECOPETROL and fifty percent (50%) for THE ASSOCIATE until cumulative production for each Commercial Field reaches 60 million barreis of liquid Hydrocarbons or 420 giga cubic feet of gaseous Hydrocarbons at standard conditions, whichever occurs first (1 cubic giga foot = 1 x 10 9, cubic feet)

Production, Distribution. 14.2.1 After deducting the royalty percentagepercentages covering royalty, the remaining Hydrocarbons hydrocarbons produced in each Commercial Field belong to is property of the parties thus: Fifty percent Parties in the proportion of fifty per cent (50%) for ECOPETROL and fifty percent AND FIFTY PER CENT (50%) for FOR THE ASSOCIATE until cumulative the accumulated production for of each Commercial Field reaches 60 million barreis barrels of liquid Hydrocarbons or the amount of 420 giga cubic feet gigafeet of gaseous Hydrocarbons at standard hydrocarbons under normal conditions, whichever occurs first (( 1 cubic giga foot gigafeet = 1 x 10 9, 9 cubic feet).