Common use of PRODUCTION STATEMENT Clause in Contracts

PRODUCTION STATEMENT. ‌ 5.1 Upon commencement of production from the Contract Area, the Contractor shall submit a monthly Production Statement to TPDC showing the following information for each Development Area and for the Contract Area: (a) the quantity and quality of Crude Oil produced and saved; (b) the quantity and composition of Natural Gas produced and saved; (c) the quantities of Petroleum used for the purposes of carrying on drilling and production operations and pumping to field storage as well as quantities injected into the formation; (d) the quantities of Petroleum unavoidably lost; (e) the quantities of Natural Gas flared; (f) the size of Petroleum stocks held at the beginning of the Month in question; (g) the size of petroleum stocks held at the end of the Month in question; (h) the number of days in the Month during which Petroleum was produced from each Development Area within the Contract Area; 5.2 At the end of each Calendar Quarter aggregated statements in respect of the three Months comprising that Quarter shall be submitted for each of the items (a) to (g) in sub-section 5.1 above. Additionally, the average daily production rate for the Quarter shall be calculated in accordance with Article 11 of the Agreement. 5.3 The Production Statement for each Month or quarter shall be submitted Government and TPDC not later than seven (7) days after the end of such Month or quarter.

PRODUCTION STATEMENT. ‌ 5.1 Upon commencement of production from the Contract Area, the Contractor Company shall submit a monthly Production Statement to TPDC T.P.D.C. showing the following information for each Development Area and for the Contract Area: (a) the The quantity and quality of Crude Oil produced and saved;. (b) the The quantity and composition of Natural Gas produced and saved;. (c) the The quantities of Petroleum used for the purposes of carrying on drilling and production operations and pumping to field storage as well as quantities injected into the formation;. (d) the The quantities of Petroleum unavoidably lost;. (e) the The quantities of Natural Gas flared;. (f) the The size of Petroleum stocks held at the beginning of the Month in question;. (g) the The size of petroleum stocks held at the end of the Month in question;. (h) the The number of days in the Month during which Petroleum was produced from each Development Area development area within the Contract Area;. 5.2 At the end of each Calendar Quarter quarter aggregated statements in respect of the three Months comprising that Quarter quarter shall be submitted for each of the items items (a) to (g) in sub-section 5.1 above. Additionally, the average daily production rate for the Quarter shall be calculated in accordance with Article 11 9 of the Agreement. 5.3 The Production Statement for each Month or quarter shall be submitted to Government and TPDC T.P.D.C. not later than seven (7) days after the end of such Month or quarter.

PRODUCTION STATEMENT. ‌ 5.1 Upon commencement of production from the Contract Area, the Contractor shall submit a monthly Production Statement to TPDC showing the following information for each Development Area and for the Contract Area: (a) the quantity and quality of Crude Oil Oil/Natural Gas produced and saved; (b) the quantity and composition of Natural Gas produced and saved; (c) the quantities of Petroleum used for the purposes of carrying on drilling and production operations and pumping to field storage as well as quantities injected into the formation; (d) the quantities of Petroleum unavoidably lost; (e) the quantities of Natural Gas flared; (f) the size of Petroleum stocks held at the beginning of the Month in question; (gf) the size of petroleum stocks held at the end of the Month in question; (hg) the number of days in the Month during which Petroleum was produced from each Development Area within the Contract Area; 5.2 At the end of each Calendar Quarter aggregated statements in respect of the three Months comprising that Quarter shall be submitted for each of the items items (a) to (g) in sub-section 5.1 above. Additionally, the average daily production rate for the Quarter shall be calculated in accordance with Article 11 of the Agreement. 5.3 The Production Statement for each Month or quarter shall be submitted Government and TPDC not later than seven (7) days after the end of such Month or quarter.