Common use of Sharing Point Clause in Contracts

Sharing Point. The Sharing Points of Petroleum and Natural Gas will be defined in the design of each Module of the Stage of Development and will coincide with the location where the Consortium will physically provide the plot of Production corresponding to each Consortium Member or to whom he indicates Any difference in volume that might occur between the Measuring Point and the Sharing Point will be considered as operating loss of sole responsibility of the Contracted Party, without right to recovery in the Cost Oil. The Consortium Members must submit to ANP a monthly bulletin of production of each field. The bulletin should be submitted until the 15th (fifteenth) day of each month following the month of the date of commencement of production of each field.