Cost Oil definition

Cost Oil shall have the meaning set out in sub-clause 27(1);

Cost Oil means the quantum of Available Crude Oil allocated to the Contractor for recovery of Operating Costs after the allocation of Royalty Oil to the State;

Cost Oil means the quantity of crude oil allocated to the Contractor in accordance with the terms of the PSC for the recovery of allowable Costs by Contractor.

Examples of Cost Oil in a sentence

• The Cost Oil shall be controlled through an information system, managed and designed by the Manager and fed by the Operator, referred to as Production Sharing Expenditure Management System (SGPP).

• The Cost Oil for the Extended Well Tests shall be recovered only in case of Commercial Discovery.

• The Profit Oil share of the Production of Oil and Gas, plus the volumes regarding the refund of Cost Oil and the volume corresponding to the Royalties payable by each Contracted Party, shall be distributed according to the Contracted Parties’ Shares, as provided for in this Consortium Agreement.

• Regarding expenditures previously recognized as Cost Oil, the Audit of the Cost and Profit Oil shall result in: reversal of expenditures improperly recognized; or final acceptance of the expenditures recognized.

• Upon receipt of the information requested, the Manager shall have fifteen (15) days to justify any failure to recognize expenditures as Cost Oil.

More Definitions of Cost Oil

Cost Oil has the meaning assigned in Article 35;

Cost Oil means the portion of the Available Oil as set out in accordance with Article 6 that the Contractor may freely retain each Calendar Year for the purposes of recovery of its Hydrocarbons Costs.

Cost Oil means that portion of the total production of Hydrocarbons, if any, which is allocated to the Parties under the Contract for the recovery of Petroleum Costs.

Cost Oil means the quantum oil Available Crude Oil allocated to an Operator to enable it to generate the proceeds to recover costs as specified in an EPA

Cost Oil means a maximum percentage of available crude oil allocated to Addax Petroleum for recovery of costs, including exploration, development and production costs and expenses after the allocation of Royalty Oil;

Cost Oil means the portion of the Available Oil, less the quantity corresponding to the value required for Royalty payment, as set out in accordance with Article 14., that the Investor may retain each Calendar Year „Troškovna nafta” znači dio Pridobivene nafte, umanjene za količine xxxxxxxx xx xxxxxxxx Xxxxxxx xx pridobivene količine ugljikovodika u skladu s člankom 14., koji Investitor može zadržati svake Kalendarske godine za potrebe for the purposes of recovery of its Petroleum Costs. povrata svojih Troškova ugljikovodika.

Cost Oil means the amount of produced Crude Oil allocated to Contractor for recovery of expenditures pursuant to Sub-articles 13.2, 13.3, 13.4 and 13.5.