VALUATION OF. Condensate and/or Natural Gas Liquids (NGL): The Value of Condensate and/or Natural Gas Liquids (NGL) shall be 75% of the price as shall be determined on the basis of either the FOB selling price per Barrel of a basket of three Crude Oils which, at the time of calculation, are being freely and actively traded in the international market or the spot market for the same Crude Oils ascertained in the same manner, whichever price, in the opinion of the Parties, more truly reflects the current value of such Crude Oils. Crude Oils which qualify for inclusion in the basket shall be those for which the spot price and term price FOB point of export is published on a regular basis in ▇▇▇▇▇'▇ Oilgram or in the Asian Petroleum Price Index (APPI) whichever the parties mutually consider more relevant for this purpose. Contractor and Petrobangla hereby agree that the following three Crude Oils shall be used: (i) Crude Oil 1 [to be agreed later] (ii) Crude Oil 2 [to be agreed later] (iii) Crude Oil 3 [to be agreed later]
Appears in 2 contracts
Sources: Production Sharing Contract, Production Sharing Contract