PETROSEN definition
Examples of PETROSEN in a sentence
The Contractor shall organize this training and advanced training, according to a plan established by mutual agreement with the Minister and the General Manager of PETROSEN, either within its company, or in other enterprises, by means of internships or exchanges of personnel, both in Senegal and abroad.
The Contractor shall also attempt to provide for the training and advanced training of the personnel of the Ministry and of PETROSEN.
In the event that any of the above conditions is satisfied, the Contractor shall, before stopping the drill operation, obtain the prior authorization of the Minister with the assistance of PETROSEN, which may not be unreasonably withheld, and the hole shall be — in the event of approval — considered as having been drilled to the minimum contract depth.
In addition, the Contractor shall support PETROSEN with the promotion of oil research and operations in Senegal.
For these purposes, the Contractor shall devote to the training plan of the Ministry’s personnel and that of PETROSEN a minimum of: · Two hundred thousand Dollars (USD 200,000) per year during the research period; and · starting from the granting of an Exploitation Perimeter, a minimum of three hundred thousand Dollars (USD 300,000) per Contract Year.
For these purposes, the Contractor shall devote to the training plan of the Ministry’s personnel and that of PETROSEN a minimum of: · Two hundred thousand Dollars (USD 200,000) per year during the research period; and · starting from the granting of an Exploitation Perimeter, a minimum of three hundred thousand Dollars (USD 300,000) per Contract Year.
Assistance with tuition fees, registration fees and expenses may be paid by the Employer or from the Education Fund outlined above.
For these purposes, the Contractor shall devote to the training plan of the Ministry’s personnel and that of PETROSEN a minimum of Dollars per year during the research period, and starting from the granting of an Exploitation Perimeter, a minimum of Dollars per year.
Considering further, that by the Deed referred to as “FARMOUT AGREEMENT” dated 19 August 2014, TIMIS CORPORATION Ltd is transferring to KOSMOS ENERGY SENEGAL a participating interest equal to sixty percent (60%), both in the Contracts and in the Agreements, consecutive to the option of PETROSEN, which consisted of not exercising its right of preemption.
The costs and fees of the expert shall be equally shared by the Parties (or at the expenses of the Contractor excluding PETROSEN until the startup of the commercial production).