Common use of The Operator shall Clause in Contracts

The Operator shall. 3.8.1 Prepare and propose to the Exploitation Committee all Participation Work Programmes and corresponding Budgets for approval, before submitting them to the Operating Committee, as well as all modifications it deems necessary to these Participation Work Programmes and corresponding Budgets; 3.8.2 Comply with the decisions of the Exploitation Committee, and conduct the Joint Operations in the Participation Area in accordance with good and prudent oil field practices currently followed by the international petroleum industry; 3.8.3 Keep all Joint Property of the Participation Area free of any liens; 3.8.4 Pay promptly the costs of the Petroleum Operations incurred under this Participation Agreement and properly invoice the Non-Operators; 3.8.5 Act consistently with the principle that it shall not make a profit nor suffer a loss as a result of its role as Operator. In the case of such losses or profits, these shall be shared between the Parties in proportion to their Participating Interest; 3.8.6 Acquire all permits, permissions, approvals and easements for rights of way or occupancy which may be necessary in order to properly carry out the Joint Operations in the Participation Area; 3.8.7 Make certain that the Contract remains valid and in effect, and pay to the REPUBLIC on behalf of the [name of Participation Area] Account any taxes, duties and other miscellaneous payments required by the Contract and by the Petroleum Legislation, other than taxes and payments which are the responsibility of the STATE, or those applying directly and individually to each Private Oil Company, pursuant to the Contract and to current legislation and regulation. 3.8.8 Take all necessary and appropriate precautions for the safety of persons and property, especially in case of emergency. 3.8.9 Prepare the Abandonment Plan for the Participation Area and its revisions, open and manage the Abandonment Account in the name and for the account of CONTRACTOR, in accordance with the decisions reached by the Exploitation Committee and the Operating Committee. 3.8.10 Timely provide Non-Operators with information, reports, data and documents pertaining to the Joint Operations, except those data, information and documents related to proprietary know-how and technology of the Operator. 3.8.11 Quickly provide Non-Operators with information pertaining to accidents, and required by insurers of the Parties.