Petroleum Produced and Saved definition

Petroleum Produced and Saved means gross Petroleum produced minus impurities such as water or solids produced along with Petroleum, Petroleum recycled to the reservoir, Petroleum used in Petroleum Operations or flared or otherwise unavoidably lost under the provisions of the Contract.
Sample 1Sample 2Sample 3
Petroleum Produced and Saved means gross Petroleum produced excluding:
Sample 1Sample 2Sample 3
Petroleum Produced and Saved means Crude Oil and Natural Gas Produced and Saved.
Sample 1Sample 2Sample 3

Examples of Petroleum Produced and Saved in a sentence

  • There are numerous opportunities for family involvement provided through the Title I program through structured activities, volunteering or serving on committees, or just receiving information, resources, or assistance with a specific problem.

  • The Contractor (Lessee) shall be required to pay Royalty to the State Government(s) (Lessor) (in case of onshore areas) and to the Central Government (in case of offshore areas), at the rates specified in Appendix-J of this contract, of the value of the Petroleum Produced and Saved by the Contractor from the Contract Area subject to the provisions of Article 19 of this contract.

  • The Contractor shall undertake to measure the volume and quality of the Petroleum Produced and Saved from the Contract Area with the frequency and according to procedures prescribed by the Government pursuant to Article 13.3 and in absence thereof shall apply methods,appliances,procedures consistent with Good International Petroleum Industry Practices (GIPIP).

  • The Government or its appointed agency shall have the right to audit the Revenue and the quantity of Petroleum Produced and Saved under this contract.

  • Petroleum Produced and Saved shall be valued as per Article 15 and 19.

  • Petroleum Produced and Saved shall be classified to segregate income from Natural Gas, Crude Oil and condensate and shall include closing stock.

Related to Petroleum Produced and Saved

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Petroleum product means crude oil, petroleum, refined petroleum products, byproducts and intermediate feed stocks, and other energy-related commodities, including, without limitation, blend components commonly used in the petroleum industry to improve characteristics of, or meet governmental or customer specifications for, petroleum or refined petroleum products.

  • Produced water means water extracted from the earth from an oil or natural gas production well, or that is separated from oil or natural gas after extraction.

  • Natural Gas Liquids means those hydrocarbon components that can be recovered from natural gas as a liquid including, but not limited to, ethane, propane, butanes, pentanes plus, and condensates;

  • Crude Petroleum means the direct product of oil wells or a mixture of the indirect products transportable like the direct products and containing not more than two percent (2%) of sediment, water, and other impurities.

  • Oil means petroleum in any form including crude oil, fuel oil, sludge, oil refuse and refined products (other than petrochemicals which are subject to the provisions of Annex II of the present Convention) and, without limiting the generality of the foregoing, includes the substances listed in Appendix I to this Annex.

  • plant products means products of plant origin, unprocessed or having undergone simple preparation in so far as these are not plants, set out in Annex IV-A, Part 3 to this Agreement;

  • Liquefied petroleum gas means a mixture of light hydrocarbons (predominantly propane, butane) that is gaseous under conditions of ambient temperature and pressure and that is maintained in a liquid state by an increase of pressure or lowering of temperature;

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Minerals means any and all ores (and concentrates derived therefrom) and minerals, precious and base, metallic and nonmetallic, in, on or under the Property which may lawfully be explored for, mined and sold.

  • Indicated Mineral Resource means that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

  • Hydrocarbons means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.