Field Operating Division definition

Field Operating Division or "FOD" means a non-profit, unincorporated, joint operating entity, administratively and financially independent of the SOC; established in accordance with Article 9.1 and Addendum Three, exclusively to serve as Operator of the Field for conducting Petroleum Operations under the direction and control of the Joint Management Committee. [Note – we would like to discuss further the legal status of the FOD and how it can discharge its obligations as Operator – proposals will be put forward separately and may result in further changes to the contract.]
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Field Operating Division or "FOD" means a non-incorporated, dedicated, special status entity within the organizational structure of the ROC that is established in accordance with Article 9.3, exclusively to serve as Operator of the Field for conducting Petroleum Operations.
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Examples of Field Operating Division in a sentence

  • For this purpose and for building upon the long experience of the existing operating manpower unit in the Field, and for securing the continuity of the necessary support by SOC, Contractor agrees to the set up of the Field Operating Division or FOD.

  • For this purpose and for building upon the long experience of the existing operating manpower unit in the Field, and for securing the continuity of the necessary support by ROC, Contractor and ROC agree to the set up of the Field Operating Division or FOD.

  • For this purpose and for building upon the long experience of the existing operating manpower unit in the Field, and for securing the continuity of the necessary support by ROC, Contractor agrees to the set up of the Field Operating Division or FOD.