Common use of TECHNOLOGICAL TRANSFERENCE Clause in Contracts

TECHNOLOGICAL TRANSFERENCE. THE ASSOCIATE agrees to carry out on its account a training program for ECOPETROL professionals in areas related to the development of the contract. In order to meet this obligation during the Exploration Period, supervised training may include among other subjects, the areas of geology, geophysical and the like, SWORN TRANSLATION No.30154/Err evaluation of reserves and characterization of oil reservoirs, drilling and production. Supervised training shall be carried out during all the initial exploration period and its extensions, through integration of professionals appointed by ECOPETROL, to the work group that THE ASSOCIATE organizes for the Contract Area or for other activities related to THE ASSOCIATE. In order to opt for the waiver dealt with in Clause 5 hereunder, THE ASSOCIATE must have complied with the training programs herein contemplated. During the Exploitation period, the scope, duration, place, participants, training conditions and other aspects shall be established by the Executive Committee of the Association. All supervised training costs, except for labor costs caused in favor the professionals receiving them, shall be assumed by THE ASSOCIATE during the Exploration Period and by both Parties charged to the Joint Account during the Exploitation Period.

TECHNOLOGICAL TRANSFERENCE. THE ASSOCIATE agrees to carry out on its account a training program for ECOPETROL professionals in areas related to the development of the contract. In order to meet this obligation during the Exploration Period, supervised training may include among other subjects, the areas of geology, geophysical and the like, SWORN TRANSLATION <PAGE> 72 No.30154/Err evaluation of reserves and characterization of oil reservoirs, drilling and production. Supervised training shall be carried out during all the initial exploration period and its extensions, through integration of professionals appointed by ECOPETROL, to the work group that THE ASSOCIATE organizes for the Contract Area or for other activities related to THE ASSOCIATE. In order to opt for the waiver dealt with in Clause 5 hereunder, THE ASSOCIATE must have complied with the training programs herein contemplated. During the Exploitation period, the scope, duration, place, participants, training conditions and other aspects shall be established by the Executive Committee of the Association. All supervised training costs, except for labor costs caused in favor the professionals receiving them, shall be assumed by THE ASSOCIATE during the Exploration Period and by both Parties charged to the Joint Account during the Exploitation Period.