Common use of Production, Distribution Clause in Contracts

Production, Distribution. 14.2.1 After deducting the percentages corresponding to royalties, the remaining produced Hydrocarbons from each Commercial Field, are owned by the Parties in the proportion of thirty percent (30%) for ECOPETROL and seventy percent (70%) for THE ASSOCIATE, until the Commercial Field's accrued production reaches sixty (60) million barrels of liquid Hydrocarbons or the amount of nine hundred (900) giga cubic feet of gaseous Hydrocarbons at standard conditions, whatever happens first (giga cubic feet of gas = 1 x 10 cubic feet). For Fields exploited under the sole risk method the production distribution after royalties is the Parties' property in a proportion of one hundred percent (100%) for THE ASSOCIATE and zero percent (0%) for ECOPETROL, up to the moment when the accrued production of the Field reaches either one of the aforementioned accrued production limits. 14.2.2 Independently from the classification of Commercial Field given by ECOPETROL regardless the limits stated on Item 14.2.1, production distribution

Production, Distribution. 14.2.1 After deducting the percentages corresponding to royalties, the remaining produced Hydrocarbons from each Commercial Field, are owned by the Parties in the proportion of thirty percent (30%) for ECOPETROL and seventy percent (70%) for THE ASSOCIATE, until the Commercial Field's accrued production reaches sixty thirty (6030) million barrels of liquid Hydrocarbons or the amount of nine six hundred and seventy five (900675) giga cubic feet of gaseous Hydrocarbons at standard conditions, whatever happens first (giga cubic feet of gas = 1 x 10 cubic feet). For Fields exploited under the sole risk method the production distribution after royalties is the Parties' property in a proportion of one hundred percent (100%) for THE ASSOCIATE and zero percent (0%) for ECOPETROL, up to the moment when the accrued production of the Field reaches either one of the aforementioned accrued production limits. 14.2.2 Independently from the classification of Commercial Field given by ECOPETROL regardless the limits stated on Item 14.2.1, production distributiondistribution of every Commercial Field (after royalties) is the property of the Parties in the proportion resulting from applying the "R" factor as follows: 14.2.2.1 If the Hydrocarbon that first reached the limit stipulated in Item 14.2.1 of this Clause was the liquid, the following table will apply: