Common use of PRODUCTION STATEMENT Clause in Contracts

PRODUCTION STATEMENT. 11.1 The Company shall, not later than seven days after the end of the first Calendar Month during which Petroleum is produced from the Licence Area, and thereafter not later than seven days after the end of every succeeding Calendar Month, prepare and submit to the Minister a production statement containing the following particulars in each respect of each Production Area in the Licence Area and for the Licence Area: (a) The quantity, grades and gravity of Crude Oil Produced and Saved; (b) the quantity and composition of Natural Gas Produced and Saved; (c) the quantities of Crude Oil and Natural Gas used for purposes of carrying on drilling and Production Operations and pumping to field storage, as well as quantities injected into the formations, each such use to be separately identified; (d) the quantity of Petroleum unavoidably lost; (e) the quantity of Natural Gas flared; (f) the size of Petroleum stocks held at the beginning of the Calendar Month in question; (g) the size of Petroleum stocks held at the end of the Calendar Month in question; (h) the number of days in the Calendar Month during which Petroleum was produced from each Production Area in the Licence Area. 11.2 The Minister may by notice in writing addressed and delivered to the Company direct that any other particulars relating to Petroleum Operations be included in the production statement referred to in paragraph 11.1 and the Company shall comply promptly with such request. 11.3 The Company shall, not later than seven days after the end of each Quarter address and deliver to the Commissioner aggregated statements containing the particulars referred to in items (a) to (h) of paragraph 11.1 in respect of the three months comprising that Quarter.

PRODUCTION STATEMENT. 11.1 The Company shall, not later than seven days after the end of the first Calendar Month during which Petroleum is produced 5.1 Commencing from the Licence Areadate of first commercial regular production from each Petroleum Field, and thereafter not later than seven days after the end of every succeeding Calendar Month, Company shall prepare and submit to the Minister a production statement monthly and quarterly Production Statements containing the following particulars in each respect of each Production Area Field in the Licence Agreement Area and for in respect of the Licence total production arising from the Agreement Area: (a) The the quantity, grades and gravity of Crude Oil Produced produced and Savedsaved, specifying separately the amounts of Condensates and Natural Gas Liquids; (b) the quantity and composition of Natural Gas Produced produced and Savedsaved; (c) the quantities of Crude Oil and Natural Gas used for purposes of carrying on drilling and Production Operations production operations and pumping to field storage, as well as of quantities injected into the formations, formations (each such use to be separately identified); (d) the quantity of Petroleum petroleum unavoidably lost; (e) the quantity of Natural Gas flared; (f) the size of Petroleum petroleum stocks held at the beginning of the Calendar Month or Quarter in question; (g) the size of Petroleum petroleum stocks held at the end of the Calendar Month or Quarter in question;; and, (h) the number of days in the Calendar Month and in the Quarter during which Petroleum Crude Oil and Natural Gas was produced from each Production Area Field in the Licence Agreement Area. 11.2 5.2 The Minister may by notice in writing addressed and delivered to the Company direct that any other particulars relating to Petroleum Operations be included in the production statement referred to in paragraph 11.1 Production Statements, and the Company shall comply promptly with such request. 11.3 5.3 The Company shall, Production Statements for each Month or Quarter shall be submitted to the Minister not later than seven (7) days after the end of each Quarter address and deliver to the Commissioner aggregated statements containing the particulars referred to in items (a) to (h) of paragraph 11.1 in respect of the three months comprising that such Month or Quarter.

PRODUCTION STATEMENT. 11.1 The Company shall, not later than seven days after the end of the first Calendar Month during which Petroleum is produced from the Licence Area, and thereafter not later than seven days after the end of every succeeding Calendar Month, prepare and submit to t o the Minister a production statement containing the following particulars in each respect of each Production Area in the Licence Area and for the Licence Area: (a) The quantity, grades and gravity of Crude Oil Produced and Saved; (b) the quantity and composition c omposition of Natural Gas Produced and Saved; (c) the quantities of Crude Oil and Natural Gas used for purposes of carrying on drilling and Production Operations and pumping to field storage, as well as quantities injected into the formations, each such use u se to be separately identified; (d) the quantity of Petroleum unavoidably lost; (e) the quantity of Natural Gas flared; (f) the size of Petroleum stocks held at the beginning of the Calendar Month in question; (g) the size of Petroleum stocks held at the end of the Calendar Month in question; (h) the number of days in the Calendar Month during which Petroleum was produced from each Production Area in the Licence Area. 11.2 The Minister may by notice in writing addressed and delivered to the Company direct that any other particulars relating to Petroleum Operations be included in the production statement referred to in paragraph 11.1 and the Company shall comply promptly with such request. 11.3 The Company shall, not later than seven days after the end e nd of each Quarter address and deliver to the Commissioner aggregated statements containing the particulars referred to in items (a) to (h) of paragraph 11.1 in respect of the three months comprising that Quarter.

PRODUCTION STATEMENT. 11.1 The Company shall, not later than seven days after the end of the first Calendar Month during which Petroleum is produced from the Licence Area, and thereafter not later than seven days after the end of every succeeding Calendar Month, prepare and submit to the Minister a production statement containing the following particulars in each respect of each Production Area in the Licence Area and for the Licence Area: (a) The quantity, grades and gravity of Crude Oil Produced and Saved; (b) the quantity and composition of Natural Gas Produced and Saved; (c) the quantities of Crude Oil and Natural Gas used for purposes of carrying on drilling and Production Operations and pumping to field storage, as well as quantities injected into the formations, each such use to be separately identified; (d) the quantity of Petroleum unavoidably lost; (e) the quantity of Natural Gas flared; (f) the size of Petroleum stocks held at the beginning of the Calendar Month in question; (g) the size of Petroleum stocks held at the end of the Calendar Month in question; (h) the number of days in the Calendar Month during which Petroleum was produced from each Production Area in the Licence Area. 11.2 The Minister may by notice in writing addressed and delivered to the Company direct that any other particulars relating to Petroleum Operations be included in the production statement referred to in paragraph 11.1 and the Company shall comply promptly with such request. 11.3 The Company shall, not later than seven days after the end of each Quarter address and deliver to the Commissioner aggregated statements containing the particulars referred to in items (a) to (h) of paragraph 11.1 in respect of the three months comprising that Quarter.paragraph

PRODUCTION STATEMENT. 11.1 The Company shall, not later than seven days after the end of the first Calendar Month during which Petroleum is produced from the Licence Area, and thereafter not later than seven days after the end of every succeeding Calendar Month, prepare and submit to the Minister a production statement containing the following particulars in each respect of each Production Area in the Licence Area and for the Licence Area: (a) The quantity, grades and gravity of Crude Oil Produced and Saved; (b) the quantity and composition of Natural Gas Produced and Saved; (c) the quantities of Crude Oil and Natural Gas used for purposes of carrying on drilling and Production Operations and pumping to field storage, as well as quantities injected into the formations, each such use to be separately identified; (d) the quantity of Petroleum unavoidably lost; (e) the quantity of Natural Gas flared; (f) the size of Petroleum stocks held at the beginning of the Calendar Month in question; (g) the size of Petroleum stocks held at the end of the Calendar Month in question; (h) the number of days in the Calendar Month during which Petroleum was produced from each Production Area in the Licence Area. 11.2 The Minister may by notice in writing addressed and delivered to the Company direct that any other particulars relating to Petroleum Operations be included 84 in the production statement referred to in paragraph 11.1 and the Company shall comply promptly with such request. 11.3 The Company shall, not later than seven days after the end of each Quarter address and deliver to the Commissioner aggregated statements containing the particulars referred to in items (a) to (h) of paragraph 11.1 in respect of the three months comprising that Quarter.