Macro-Group definition

Macro-Group set of properties and services purchased or contracted by the Concessionaires to develop the activities in the segments defined under this Agreement with specific Local Content commitments. Best Practices of the Oil Industry: The best and safest procedures and technologies available in the Oil and Gas Industry worldwide intended to: (a) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (b) preserve the environment and protect adjacent communities; (c) prevent or reduce as much as possible the risk of spill of oil, natural gas, by-products, and other chemicals that may be hazardous to the environment; (d) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (e) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industry, whenever such measures increase the chances to achieve the objectives listed above.
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Examples of Macro-Group in a sentence

  • The Operator shall indicate the Macro-Group to which the excess of the Exploration Phase shall be directed.

  • In case of simultaneous failure to honor more than one commitment for the Macro-Groups referred to in paragraph 20.1.4, the amount of the penalty shall correspond to the sum of the penalties for each Macro-Group.

  • Macro-Group: set of properties, services, and equipment purchased or contracted by the Concessionaires to develop the activities in the segments defined under this Agreement with specific local content commitments.

  • In case of simultaneous failure to honor more than one commitment for the Macro-Groups referred to in paragraph 22.1, the amount of the penalty shall correspond to the sum of the penalties for each Macro-Group.

  • In case of simultaneous failure to honor more than one commitment for the Macro-Groups referred to in item “b” of paragraph 25.1, the amount of the penalty shall correspond to the sum of the penalties for each Macro-Group.

  • Macro-Group: set of properties, services, and equipment purchased or contracted by the Concessionaires to develop the activities in the segments defined under this Agreement with specific Local content commitments.

  • In case of simultaneous failure to honor more than one commitment for the Macro-Groups referred to in item “b” of paragraph 24.1, the amount of the penalty shall correspond to the sum of the penalties for each Macro-Group.

  • For offshore Fields, the Operator shall indicate the Macro-Group to which the excess of the Exploration Phase shall be directed .

  • Macro-Group: set of properties, services, and equipment purchased or contracted by the Contracted Parties to develop the activities in the segments defined under this Agreement with specific local content commitments.

  • In case of Offshore Fields with water depth over one hundred (100) meters, the Operator shall indicate the Macro-Group to which the excess of the Exploration Phase will be directed.