RIK definition
Examples of RIK in a sentence
For State RIK Gas produced prior to Project Start-up of a Major Gas Sale, the State will not be responsible for Field Costs for State RIK Gas that is delivered to the State at the PTU Delivery Point, regardless of whether the State RIK Gas is injected into the PBU reservoir.
Except as interpreted or modified by the terms set forth in this Paragraph 4.16.2, any Transportation Costs, Fuel / Losses and Field Costs associated with State RIK Gas shall be addressed as set forth in the Point Thomson leases and other applicable agreements.
Within ten (10) Days of the original payment due date of the disputed amount, the Party disputing the amount shall provide the other Party details of its dispute and any supporting documentation available.
If the State elects to receive a payment for its share of State RIK Gas that was injected into the PBU reservoir prior to Project Start-up of a Major Gas Sale, payment will be calculated based on the royalty in value basis for Point Thomson gas under the applicable leases, at the time the gas is withdrawn from the PBU reservoir.
If costs for the Point Thomson Gas Development / Prudhoe Bay Enhanced Recovery Project, including the PTU / PBU Gas Pipeline, were not entitled to or did not receive deductions and credits under AS 43.55, with substantially the same credits/benefits as exists under AS 43.55 on the Effective Date, then the State will be responsible for Transportation Costs and Fuel / Losses associated with the delivery of State RIK Gas to the State at the PBU Delivery Point.
Each WIO is responsible for delivery to the State and the State will take deliveries of State RIK Gas proportionately from each WIO.
The manner in which Transportation Costs, Fuel / Losses and Field Costs are addressed depends on whether the PTU / PBU Gas Pipeline is a Regulated PTU / PBU Gas Pipeline or an Unregulated PTU / PBU Gas Pipeline at the time the State RIK Gas is produced and delivered into the PTU / PBU Gas Pipeline, recognizing that the status of the PTU / PBU Gas Pipeline may change.
Whether the State receives gas or a payment for its share of State RIK Gas produced from the PBU reservoir, there will be no deduction for Field Costs, but the deductions for Transportation Costs and Fuel / Losses, as set forth in Paragraph 4.16.2.3, will apply.
Delivery of State RIK Gas to the State will not be unreasonably withheld.
The State will pay Transportation Costs and be responsible for Fuel / Losses for State RIK Gas that is delivered to the State at the PTU Delivery Point pursuant to the terms of the approved transportation tariff for the PTU / PBU Gas Pipeline.