Common use of Production Sharing Clause in Contracts

Production Sharing. 9.3.1 Crude Oil and Natural Gas Production shall be respectively disaggregated into the Cost Oil and the Profit Oil (and the Cost Gas and the Profit Gas), by using the relevant percentage calculated quarterly for the Cost Petroleum (in accordance with sub-clause 9.1) and for the Profit Petroleum (in accordance with sub- clause 9.1). 9.3.2 The Cost Petroleum and the Profit Petroleum calculations (respectively disaggregated into the Cost Oil, the Cost Gas, the Profit Oil and the Profit Gas) shall be done quarterly, on an accumulative basis during a given Fiscal Year. To the extent that actual quantities, costs and expenses are not known, provisional estimates of such data (based on the adopted annual Production Work Programme and Budget under clause 8) shall be used. 9.3.3 Within [60] days of the end of each Fiscal Year, a final calculation of each category of the Cost Petroleum and the Profit Petroleum based on actual Crude Oil Production and Natural Gas Production, in respect of that Fiscal Year and the recoverable Petroleum Costs and the Uplift, shall be prepared and any necessary adjustments shall be promptly made.

Production Sharing. 9.3.1 ‌ 10.3.1 Crude Oil and Natural Gas Production shall be respectively disaggregated into the Cost Oil and the Profit Oil (and the Cost Gas and the Profit Gas), by using the relevant percentage calculated quarterly Quarterly for the Cost Petroleum (in accordance with sub-clause 9.110.1) and for the Profit Petroleum (in accordance with sub- sub-clause 9.110.1). 9.3.2 10.3.2 The Cost Petroleum and the Profit Petroleum calculations (respectively disaggregated into the Cost Oil, the Cost Gas, the Profit Oil and the Profit Gas) shall be done quarterlyQuarterly, on an accumulative basis during a given Fiscal Year. To the extent that actual quantities, costs and expenses are not known, provisional estimates of such data (based on the adopted annual Production Work Programme and Budget under clause 8) shall be used. 9.3.3 10.3.3 Within [sixty (60] ) days of the end of each Fiscal Year, a final calculation of each category of the Cost Petroleum and the Profit Petroleum based on actual Crude Oil Production and Natural Gas Production, in respect of that Fiscal Year and the recoverable Petroleum Costs and the UpliftCosts, shall be prepared and any necessary adjustments shall be promptly made.

Production Sharing. 9.3.1 10.3.1 Crude Oil and Natural Gas Production shall be respectively disaggregated into the Cost Oil and the Profit Oil (and the Cost Gas and the Profit Gas), by using the relevant percentage calculated quarterly Quarterly for the Cost Petroleum (in accordance with sub-sub- clause 9.110.1) and for the Profit Petroleum (in accordance with sub- sub-clause 9.110.1). 9.3.2 10.3.2 The Cost Petroleum and the Profit Petroleum calculations (respectively disaggregated into the Cost Oil, the Cost Gas, the Profit Oil and the Profit Gas) shall be done quarterlyQuarterly, on an accumulative basis during a given Fiscal Year. To the extent that actual quantities, costs and expenses are not known, provisional estimates of such data (based on the adopted annual Production Work Programme and Budget under clause 8) shall be used. 9.3.3 10.3.3 Within [sixty (60] ) days of the end of each Fiscal Year, a final calculation of each category of the Cost Petroleum and the Profit Petroleum based on actual Crude Oil Production and Natural Gas Production, in respect of that Fiscal Year and the recoverable Petroleum Costs and the UpliftCosts, shall be prepared and any necessary adjustments shall be promptly made.