Common use of Operator Clause in Contracts

Operator. The Operator shall be the only person responsible, on behalf of the Consortium, for conduct and development of all activities of Exploration, Assessment, Development, Production, and decommissioning of the facilities under the Agreement. The Operator is the only member of the Consortium that, on its behalf and within the limits defined by the Operating Committee, may execute agreements, enforce or undertake expenditure commitments, and take other actions related to the development of the activities of Exploration and Production of Oil and Gas in the Contract Area. The Operator shall be responsible for representing the Consortium before regulators, inspecting authorities, and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have at least a thirty percent (30%)-share in the equity rights and obligations of the Consortium in the Contract Area. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shall: act in compliance with this Agreement, the Applicable Laws and Regulations, and determinations of the Operating Committee; conduct the Operations in a diligent, safe, and efficient manner, pursuant to the Best Practices of the Oil Industry, having No Loss or Gain in its capacity of Operator; notify the Operating Committee and ANP of any Discovery inside the Contract Area, according to Section Twelve of the Agreement; conduct the Operations with Exclusive Risks pursuant to Section IV of this Annex; prepare the Work and Budget Programs and other documents to be submitted to examination of the Operating Committee, under the terms of this Agreement; prepare and send to ANP, after definition of the Operating Committee, the plans, programs, and reports required by the regulator; issue the Authorization for Expenditure to develop the activities approved by the Operating Committee in the Annual Work Program and call for contribution to pay the Consortium expenses; render accounts to the Consortium, as established under this Agreement and by the Operating Committee; obtain the relevant legal licenses and permits required to conduct the operations in the Contract Area; provide the non-Operator Consortium Members with access to the facilities and records of the Operations, upon their prior request; undertake responsibility for the payment of the Royalties payable on behalf of the Contractors; represent the non-Operator Consortium Members when contacting ANP; in case of emergency, take the necessary measures to protect life, the environment, the facilities, and the equipment; keep the non-Operator Consortium Members informed of the activities in progress arising from performance of this Agreement; propose to the Operating Committee the matters of the Table of Competences and Resolutions; manage the Exploration and Production projects regarding the Agreement through a methodology based on the market references and with a structure centralized in and coordinated from a project management office, aiming at standardizing the governance processes related to the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activities. Information provided by the Operator The Operator shall provide to the other Consortium Members the following data and reports as they are prepared or compiled during conduct of the Operations: copies of all records or researches, including in electronic format, if any; daily drilling reports; copies of all essential tests and data and of analysis reports; final drilling report; copy of line interconnection reports; final copies of geological and geophysical maps, seismic sections, and objectives; engineering studies, development projects, and progress reports of the development projects; daily bulletin of the Production of Oil and Gas with record of production losses and burnings; field data and also performance reports, including Reservoir studies and reserve estimates; copies of all reports regarding material of Operations in the Contract Area or provided to ANP; copies of the engineering projects of each well, including any reviews; periodic reports with safety, health, and environment indicators regarding the Operations; and other studies and reports established by the Operating Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related to the Operations. The Operator shall provide quarterly reports to the Consortium Members with updated administrative complaints and lawsuits related to the Operations. Additional information arising from execution of the Operations in the Contract Area may be requested, at any time, to the Operator by the Contractors, at their own expenses. The Manager shall receive additional information with no costs. Limitation of the Responsibilities of the Operator The Contractors are jointly liable for any losses and damages caused in the execution of the Operations and to each other, according to their respective shares, except when the Operator, at high managerial level (General Manager of the Operating Unit, Executive Manager, or equivalent, at least), proceeds with evidenced direct or eventual willful misconduct or gross negligence, cases in which it shall bear all losses, damages, costs, expenses and liabilities, and general burdens resulting therefrom on an individual basis.

Operator. The Operator shall Petroleo Brasileiro S.A. - Petrobras, for the whole duration of this Contract, will be the Operator and, as such, the only person one responsible, on behalf of the Consortium, for conduct leading and development of carrying out all activities of Exploration, AssessmentEvaluation, Development, Production, Production and decommissioning of facilities within the facilities under the AgreementContract. The Operator is the only member of the Consortium thatwhich, on its behalf and within the limits defined by the Operating Operational Committee, may execute agreementssign contracts, enforce carry out or undertake make commitments of expenditure commitments, and take other actions related to the development exercise of the activities of Exploration and Production of Oil and Natural Gas in the Contract AreaArea of the Contract. The Operator shall be responsible for representing the Consortium before regulators, inspecting authorities, regulatory bodies and supervisors and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have Contract will hold, at least a minimum, a 30% (thirty percent (30%)-share in percent) share over the equity rights and obligations of the Consortium in the Contract AreaArea of the Contract. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shallmust: act Act in compliance accordance with this Agreement, the Applicable Laws Legislation and Regulations, and the determinations of the Operating Operational Committee; conduct the Operations . Conduct operations in a diligent, safe, efficient and efficient manner, pursuant to secure way in accordance with the Best Practices of the Oil Industry, having taking into account the No Gain No Loss or Gain in Principle due to its capacity of condition as Operator; notify . Notify the Operating Operational Committee and ANP of any Discovery inside within the Contract Area, according to Section Twelve Area of the AgreementContract, as per Clause Twelfth - Discovery and Evaluation; conduct Perform operations with Exclusive Risks as per the Operations with Exclusive Risks pursuant to Section IV of this AnnexRisks; prepare Prepare the Work and Budget Programs Schedules and other documents to be submitted to examination for the consideration of the Operating Operational Committee, under the terms according to Section I - Operational Committee, of this AgreementContract; prepare Prepare and send to ANP, after definition of the Operating Operational Committee, the plans, programs, schedules and reports required by the regulatorregulatory body; issue Sign, on behalf of the Contracted Party, any Production Individualization Agreements; Issue Authorization of Expenditure for Expenditure to develop the implementation of activities approved by the Operating Operational Committee in on the Annual Work Program Plan and call get funds to make payment of the costs of the Consortium; Make the accountability for contribution to pay the Consortium expenses; render accounts to the Consortium, as established under set forth in this Agreement Contract and by the Operating Operational Committee; obtain Obtain the relevant legal appropriate licenses and permits required to conduct legal permissions necessary for carrying out the operations in the Contract AreaArea of the Contract; provide Provide the non-Operator Consortium Members Member with access to the facilities premises and records of the OperationsTransactions, upon their prior request; undertake responsibility for the payment of the Royalties payable on behalf of the Contractors; represent Represent the non-Operator Consortium Members when contacting Member in contacts with ANP; in In case of emergency, take the measures necessary measures to protect for the protection of life, the environment, the facilities, facilities and the equipment; keep Keep the non-Operator Consortium Members informed of the ongoing activities in progress arising from performance the execution of this Agreement; propose Contract. Propose to the Operating Operational Committee the matters affairs of the Table of Competences and Resolutions; manage the Exploration and Production projects regarding the Agreement through a methodology based on the market references and with a structure centralized in and coordinated from a project management office, aiming at standardizing the governance processes related to the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activitiesDeliberation. Information provided by the Operator The Operator shall provide to the other Consortium Members with the following data and reports as they are prepared produced or compiled during conduct on the basis of the implementation of the Operations: copies Copies of all records or researchessurveys, including even in electronic digital format, if any; daily Daily drilling reports; copies Copies of all essential tests and essential data and of analysis reports; final Final drilling report; copy Copies of line the lines interconnection reports; final Final copies of geological and geophysical maps, seismic sections, sections and objectives; engineering Engineering studies, development projects, projects and reports on the progress reports of the development projects; daily Daily bulletin on the production of the Production of Oil oil and Gas natural gas with record records of production losses and burningsxxxxx; field Field data and also the performance reports, including Reservoir studies of reservoir and reserve estimatesthe estimates of reserves; copies Copies of all reports regarding relating to material of Operations in the Area of the Contract Area or provided by the Operator to ANP; copies , Copies of the engineering projects of for each well, including any reviewsrevisions; periodic Periodic reports with indicators of safety, healthhealth and environment, and environment indicators regarding referring to the Operations; and other Other studies and reports established determined by the Operating Operational Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related relevant judicial actions that have any reference to the Operations. The Operator shall represent the Consortium Members either judicial or extra judicially. The Operator shall provide quarterly reports to the Consortium Members with updated quarterly reports with updates of administrative complaints and lawsuits related legal actions relating to the Operations. Additional information Information arising from execution the implementation of the Operations in the Area of the Contract Area may be requested, requested at any time, time to the Operator by the ContractorsConsortium Members, at their its own expensesexpense. The Manager shall Managing Party will receive the additional information with no costswithout cost. Limitation The amounts provided in the caput will not be recovered in the Cost Oil. Limit of the Operator's Responsibilities The members of the Operator The Contractors Consortium, except the Managing Party, as per paragraph 2.7 2.7 of the Contract, are jointly and severally liable for any losses and damages caused incurred in the execution of the Operations and to each other, according to their respective sharesOperations, except when the Operator, at high managerial its management-level (General Manager of the Operating Unit, Operational Unit or Executive Manager) commits fraud, direct or eventual, or equivalentserious misconduct, at least), proceeds with evidenced direct or eventual willful misconduct or gross negligence, cases in assumptions on which it shall bear should afford alone for all the losses, damages, costs, expenses and liabilitiesliabilities resulting from such behavior. Planning and Implementation of Activities within the Consortium Work and Budget Schedule for the 1st Year of the Contract Within 30 (thirty) days after the date of establishment of the Operational Committee, the Operator shall deliver to the members of the Committee, the proposed Work and general burdens resulting therefrom Budget Schedule detailing the Operations to be performed for the remainder of the current calendar year and, if necessary, for the following year. Within 30 (thirty) days after delivery, the Operational Committee should meet to discuss and decide on the Work and Budget Schedule. Work and Budget Schedule for the following years Up to the 1st day of September of each calendar year, the Operator shall deliver to the Consortium Members a proposal for a Work and Budget Schedule detailing the operations to be performed in the following year. Within 30 (thirty) days after delivery of such schedule, the Operational Committee should meet to discuss and decide on the Work and Budget Schedule. If the Operational Committee does not approve certain Operations contained in the Work and Budget Schedule proposed, any Contracted Party may subsequently propose accomplishing it as an individual basisOperation with Exclusive Risks as provided for the Operations with Exclusive Risks. If the Work and Budget Schedule is approved by Operational Committee, the Operator must take the measures necessary to submit it to ANP. If ANP requires changes to the Work and Budget Schedule, the matter should be again submitted to the Operational Committee for further examination, following the procedures and deadlines set out in the preceding paragraphs. The Work and Budget Schedules in the Exploration Phase should include, at least, part of the obligations of the Minimum Exploratory Program, which must be carried out during the current calendar year, in accordance with the Contract. Any Work and Budget Schedule approved may be revised by the Operational Committee when deemed convenient. To the extent that such revisions are approved by the Operational Committee, the Work and Budget Schedule should be amended and the Operator, when this occurs, prepare and submit such amendments to ANP, as required in this Contract.

Operator. The Operator shall be the only person sole responsible, on behalf of the Consortium, for conduct conducting and development of developing all activities of Exploration, Assessment, Development, Production, and decommissioning of the facilities under the Agreement. The Operator is the only member of the Consortium that, on its behalf and within the limits defined by the Operating Committee, may execute agreements, enforce or undertake expenditure commitments, and take other actions related to the development of the activities of Exploration and Production of Oil and Gas in the Contract Area. The Operator shall be that responsible for representing the Consortium before regulatorsregulatory authorities, inspecting authorities, and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have at least a thirty percent (30%)-share in the equity property rights and obligations of the Consortium in the Contract Area. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shall: act in compliance with this Agreement, the Applicable Laws and Regulations, and determinations the orders of the Operating Committee; conduct the Operations in a diligent, safe, and efficient manner, pursuant to in compliance with the Best Practices of the Oil Industry, having pursuant to the “No Loss or Gain Gain, No Loss” Principle in its capacity position of Operator; notify the Operating Committee and ANP of any Discovery inside the Contract Area, according to Section Twelve of the Agreement; conduct the Operations with Exclusive Risks pursuant to Section IV of this Annexannex; prepare develop the Budget and Work and Budget Programs and other documents to be submitted to examination of by the Operating Committee, under the terms of this Agreement; prepare develop and send to ANP, after definition of when the Operating CommitteeCommittee is defined, the plans, programs, and reports required by the regulatorregulatory authority; issue the Authorization for Expenditure to develop the activities approved by the Operating Committee in the Annual Work Program and call for fund contribution to pay the Consortium expenses; render accounts to the Consortium, as established under in this Agreement and by the Operating Committee; obtain the relevant legal licenses and permits required to conduct the operations in the Contract Area; provide the non-Operator Consortium Members with access to the facilities and records of the Operations, upon their prior request; undertake assume responsibility for the payment of the Royalties payable on behalf of the ContractorsContracted Parties; represent the non-Operator Consortium Members when contacting ANP; in case of emergency, take the necessary measures to protect life, the environment, the facilities, and the equipment; keep the non-Operator Consortium Members informed of the activities in progress arising from performance of this Agreement; propose to the Operating Committee the matters of in the Table of Competences and Resolutions; manage the Exploration and Production projects regarding the Agreement through a using methodology based on the market references and with a structure centralized in and coordinated from a project management office, aiming at standardizing the governance processes related to the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activities. Information provided by the Operator The Operator shall provide to the other Consortium Members the following data and reports as they are prepared or compiled during conduct of the Operations: copies of all records or researches, including those in electronic format, if any; daily drilling reports; copies of all essential tests and data and of analysis reports; drilling final drilling report; copy copies of the line interconnection reports; final copies of geological and geophysical maps, seismic sections, and objectives; engineering studies, development projects, and progress reports of on the development projects; daily bulletin of the Production of Oil and Gas with a record of production losses and burnings; field data and also performance reports, including Reservoir studies and reserve estimates; copies of all reports regarding material of Operations in the Contract Area or provided to ANP; copies of the engineering projects of each well, including any reviewsrevisions thereto; periodic reports with safety, health, and environment indicators regarding the Operations; and other studies and reports established by the Operating Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related to the Operations. The Operator shall provide quarterly reports to the Consortium Members with updated administrative complaints and lawsuits related to the Operations. Additional information arising from execution conduct of the Operations in the Contract Area may be requested, at any time, to the Operator by the ContractorsContracted Parties, at their own expenses. The Manager shall receive additional information with no costs. Limitation of Limit to the Responsibilities of the Operator Operator’s Liabilities The Contractors Contracted Parties are jointly liable for any losses and damages caused in the execution of the Operations and to each other, according to their respective shares, except when the Operator, at in high managerial level (General Manager of the Operating Unit, Executive Manager, or equivalent, at least), proceeds proceed with evidenced direct or eventual evidenced willful misconduct or gross negligencemisconduct, cases in which it shall bear all losses, damages, costs, expenses and liabilities, and general burdens resulting therefrom on an individual basisresulting.

Operator. The Operator shall be the only person responsible, on behalf of the Consortium, for conduct and development of all activities of Exploration, Assessment, Development, Production, and decommissioning of the facilities under the Agreement. The Operator is the only member of the Consortium that, on its behalf and within the limits defined by the Operating Committee, may execute agreements, enforce or undertake expenditure commitments, and take other actions related to the development of the activities of Exploration and Production of Oil and Gas in the Contract Area. The Operator shall be responsible for representing the Consortium before regulators, inspecting authorities, and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have at least a thirty percent (30%)-share in the equity rights and obligations of the Consortium in the Contract Area. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shall: act in compliance with this Agreement, the Applicable Laws and Regulations, and determinations of the Operating Committee; conduct the Operations in a diligent, safe, and efficient manner, pursuant to the Best Practices of the Oil Industry, having No Loss or Gain in its capacity of Operator; notify the Operating Committee and ANP of any Discovery inside the Contract Area, according to Section Twelve of the Agreement; conduct the Operations with Exclusive Risks pursuant to Section IV of this Annex; prepare the Work and Budget Programs and other documents to be submitted to examination of the Operating Committee, under the terms of this Agreement; prepare and send to ANP, after definition of the Operating Committee, the plans, programs, and reports required by the regulator; enter into any Production Individualization Agreements on behalf of the Consortium Members; issue the Authorization for Expenditure to develop the activities approved by the Operating Committee in the Annual Work Program and call for contribution to pay the Consortium expenses; render accounts to the Consortium, as established under this Agreement and by the Operating Committee; obtain the relevant legal licenses and permits required to conduct the operations in the Contract Area; provide the non-Operator Consortium Members with access to the facilities and records of the Operations, upon their prior request; undertake responsibility for the payment of pay the Royalties payable due on behalf of the Contractors; represent the non-Operator Consortium Members when contacting ANP; in case of emergency, take the necessary measures to protect life, the environment, the facilities, and the equipment; keep the non-Operator Consortium Members informed of the activities in progress arising from performance of this Agreement; propose to the Operating Committee the matters of the Table of Competences and Resolutions; . manage the Exploration and Production projects regarding the Agreement through a methodology based on the market references and with a structure centralized in and coordinated from a project management office, aiming at standardizing the governance processes related to the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activities. Information provided by the Operator The Operator shall provide to the other Consortium Members the following data and reports as they are prepared or compiled during conduct of the Operations: copies of all records or researches, including in electronic format, if any; daily drilling reports; copies of all essential tests and data and of analysis reports; final drilling report; copy of line interconnection reports; final copies of geological and geophysical maps, seismic sections, and objectives; engineering studies, development projects, and progress reports of the development projects; daily bulletin of the Production of Oil and Gas with record of production losses and burnings; field data and also performance reports, including Reservoir studies and reserve estimates; copies of all reports regarding material of Operations in the Contract Area or provided to ANP; copies of the engineering projects of each well, including any reviews; periodic reports with safety, health, and environment indicators regarding the Operations; and other studies and reports established by the Operating Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related to the Operations. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator shall provide quarterly reports to the Consortium Members with updated administrative complaints and lawsuits related to the Operations. Additional information arising from execution of the Operations in the Contract Area may be requested, at any time, to the Operator by the Contractors, at their own expenses. The Manager shall receive additional information with no costs. Limitation of the Responsibilities of the Operator The Contractors are jointly liable for any losses and damages caused in the execution of the Operations and to each other, according to their respective shares, except when the Operator, at high managerial level (General Manager of the Operating Unit, Executive Manager, or equivalent, at least), proceeds with evidenced direct or eventual willful misconduct or gross negligence, cases in which it shall bear all losses, damages, costs, expenses and liabilities, and general burdens resulting therefrom on an individual basis.

Operator. The Operator shall be the only person sole responsible, on behalf of the Consortium, for conduct conducting and development of developing all activities of Exploration, Assessment, Development, Production, and decommissioning of the facilities under the Agreement. The Operator is the only member of the Consortium that, on its behalf and within the limits defined by the Operating Committee, may execute agreements, enforce or undertake expenditure commitments, and take other actions related to the development of the activities of Exploration and Production of Oil and Gas in the Contract Area. The Operator shall be that responsible for representing the Consortium before regulatorsregulatory authorities, inspecting authorities, and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have at least a thirty percent (30%)-share in the equity property rights and obligations of the Consortium in the Contract Area. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shall: act in compliance with this Agreement, the Applicable Laws and Regulations, and determinations the orders of the Operating Committee; conduct the Operations in a diligent, safe, and efficient manner, pursuant to in compliance with the Best Practices of the Oil Industry, having pursuant to the “No Loss or Gain Gain, No Loss” Principle in its capacity position of Operator; notify the Operating Committee and ANP of any Discovery inside the Contract Area, according to Section Twelve Sixteen of the Agreement; conduct the Operations with Exclusive Risks pursuant to Section IV of this AnnexIV; prepare develop the Budget and Work and Budget Programs and other documents to be submitted to examination of by the Operating Committee, under the terms of this Agreement; prepare develop and send to ANP, after definition of when the Operating CommitteeCommittee is defined, the plans, programs, and reports required by the regulatorregulatory authority; issue the Authorization for Expenditure to develop the activities approved by the Operating Committee in the Annual Work Program and call for fund contribution to pay the Consortium expenses; render accounts to the Consortium, as established under in this Agreement and by the Operating Committee; obtain the relevant legal licenses and permits required to conduct the operations in the Contract Area; provide the non-Operator Consortium Members with access to the facilities and records of the Operations, upon their prior request; undertake assume responsibility for the payment of the Royalties payable on behalf of the ContractorsContracted Parties; represent the non-Operator Consortium Members when contacting ANP; in case of emergency, take the necessary measures to protect life, the environment, the facilities, and the equipment; keep the non-Operator Consortium Members informed of the activities in progress arising from performance of this Agreement; propose to the Operating Committee the matters of the Table of Competences and Resolutions; manage the Exploration and Production projects regarding the Agreement through using a methodology based on the market references and with a structure centralized in and coordinated from a project management office, aiming at standardizing the governance processes related to the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activities. Information provided by the Operator The Operator shall provide to the other Consortium Members the following data and reports as they are prepared or compiled during conduct of the Operations: copies of all records or researches, including those in electronic format, if any; daily drilling reports; copies of all essential tests and data and of analysis reports; drilling final drilling report; copy copies of the line interconnection reports; final copies of geological and geophysical maps, seismic sections, and objectives; engineering studies, development projects, and progress reports of on the development projects; daily bulletin of the Production of Oil and Gas with a record of production losses and burnings; field data and also performance reports, including Reservoir studies and reserve estimates; copies of all reports regarding material of Operations in the Contract Area or provided to ANP; copies of the engineering projects of each well, including any reviewsrevisions thereto; periodic reports with safety, health, and environment indicators regarding the Operations; and other studies and reports established by the Operating Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related to the Operations. The Operator shall provide quarterly reports to the Consortium Members with updated administrative complaints and lawsuits related to the Operations. Additional information arising from execution conduct of the Operations in the Contract Area may be requested, at any time, to the Operator by the ContractorsContracted Parties, at their own expenses. The Manager shall receive additional information with no costs. Limitation of Limit to the Responsibilities of the Operator Operator’s Liabilities The Contractors Contracted Parties are jointly liable for any losses and damages caused in the execution of the Operations and to each other, according to their respective shares, except when the Operator, at in high managerial level (General Manager of the Operating Unit, Executive Manager, or equivalent, at least), proceeds proceed with evidenced direct or eventual evidenced willful misconduct or gross negligencemisconduct, cases in which it shall bear all losses, damages, costs, expenses and liabilities, and general burdens resulting therefrom on an individual basisresulting.

Operator. The Operator shall be the only person sole responsible, on behalf of the Consortium, for conduct conducting and development of developing all activities of Exploration, Assessment, Development, Production, and decommissioning of the facilities under the Agreement. The Operator is the only member of the Consortium that, on its behalf and within the limits defined by the Operating Committee, may execute agreements, enforce or undertake expenditure commitments, and take other actions related to the development of the activities of Exploration and Production of Oil and Gas in the Contract Area. The Operator shall be that responsible for representing the Consortium before regulatorsregulatory authorities, inspecting authorities, and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have at least a thirty percent (30%)-share in the equity property rights and obligations of the Consortium in the Contract Area. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shall: act in compliance with this Agreement, the Applicable Laws and Regulations, and determinations the orders of the Operating Committee; conduct the Operations in a diligent, safe, and efficient manner, pursuant to in compliance with the Best Practices of the Oil Industry, having pursuant to the “No Loss or Gain Gain, No Loss” Principle in its capacity position of Operator; notify the Operating Committee and ANP of any Discovery inside the Contract Area, according to Section Twelve Sixteen of the Agreement; conduct the Operations with Exclusive Risks pursuant to Section IV IV; develop the Annual Budget and Work Programs of this Annex; prepare the Work and Budget Programs Production Phase and other documents to be submitted to examination of by the Operating Committee, under the terms of this Agreement; prepare develop and send to ANP, after definition of when the Operating CommitteeCommittee is defined, the plans, programs, and reports required by the regulatorregulatory authority; issue the Authorization for Expenditure to develop the activities approved by the Operating Committee in the Annual Work Program and call for fund contribution to pay the Consortium expenses; render accounts to the Consortium, as established under in this Agreement and by the Operating Committee; obtain the relevant legal licenses and permits required to conduct the operations in the Contract Area; provide the non-Operator Consortium Members with access to the facilities and records of the Operations, upon their prior request; undertake assume responsibility for the payment of the Royalties payable on behalf of the ContractorsContracted Parties; represent the non-Operator Consortium Members when contacting ANP; in case of emergency, take the necessary measures to protect life, the environment, the facilities, and the equipment; keep the non-Operator Consortium Members informed of the activities in progress arising from performance of this Agreement; propose to the Operating Committee the matters of the Table of Competences and Resolutions; manage the Exploration and Production projects regarding the Agreement through a methodology based on compatible with the market references and with a structure centralized in and coordinated from a best project management officepractices in the Oil Industry, aiming at standardizing the governance processes related to Contract's provisions and the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activitiesApplicable Law. Information provided by the Operator The Operator shall provide to the other Consortium Members the following data and reports as they are prepared or compiled during conduct of the Operations: copies of all records or researches, including those in electronic format, if any; daily drilling reports; copies of all essential tests and data and of analysis reports; drilling final drilling report; copy copies of the line interconnection reports; final copies of geological and geophysical maps, seismic sections, and objectives; engineering studies, development projects, and progress reports of on the development projects; daily bulletin of the Production of Oil and Gas with a record of production losses and burnings; field data and also performance reports, including Reservoir studies and reserve estimates; copies of all reports regarding material of Operations in the Contract Area or provided to ANP; copies of the engineering projects of each well, including any reviewsrevisions thereto; periodic reports with safety, health, and environment indicators regarding the Operations; and other studies and reports established by the Operating Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related to the Operations. The Operator shall provide quarterly reports to the Consortium Members with updated administrative complaints and lawsuits related to the Operations. Additional information arising from execution conduct of the Operations in the Contract Area may be requested, at any time, to the Operator by the ContractorsContracted Parties, at their own expenses. The Manager shall receive additional information with no costs. Limitation of the Responsibilities of the Operator The Contractors are jointly liable for any losses and damages caused in the execution of the Operations and to each other, according to their respective shares, except when the Operator, at high managerial level (General Manager of the Operating Unit, Executive Manager, or equivalent, at least), proceeds with evidenced direct or eventual willful misconduct or gross negligence, cases in which it shall bear all losses, damages, costs, expenses and liabilities, and general burdens resulting therefrom on an individual basis.

Operator. The Operator Petróleo Brasileiro S.A. – Petrobras, during the effectiveness of this Agreement, shall be the Operator and only person responsible, on behalf of the Consortium, for conduct conducting and development of developing all activities of Exploration, Assessment, Development, Production, and decommissioning of the facilities under the Agreement. The Operator is the only member of the Consortium that, on its behalf and within the limits defined by the Operating Committee, may execute agreements, enforce or undertake expenditure commitments, and take other actions related to the development of the activities of Exploration and Production of Oil and Gas in the Contract Area. The Operator shall be that responsible for representing the Consortium before regulatorsregulatory authorities, inspecting authorities, and other external entities. The Operator shall represent the Consortium Members judicially and extrajudicially. The Operator of this Agreement shall have at least a thirty percent (30%)-share in the equity property rights and obligations of the Consortium in the Contract Area. The Operator may resign its position, being subject to the conditions required by ANP. The Operator shall: act in compliance with this Agreement, the Applicable Laws and Regulations, and determinations the orders of the Operating Committee; conduct the Operations in a diligent, safe, and efficient manner, pursuant to in compliance with the Best Practices of the Oil Industry, having pursuant to the “No Loss or Gain Gain, No Loss” Principle in its capacity position of Operator; notify the Operating Committee and ANP of any Discovery inside the Contract Area, according to Section Twelve Sixteen of the Agreement; conduct the Operations with Exclusive Risks pursuant to Section IV IV; develop the Annual Budget and Work Programs of this Annex; prepare the Work and Budget Programs Production Phase and other documents to be submitted to examination of by the Operating Committee, under the terms of this Agreement; prepare develop and send to ANP, after definition of when the Operating CommitteeCommittee is defined, the plans, programs, and reports required by the regulatorregulatory authority; issue the Authorization for Expenditure to develop the activities approved by the Operating Committee in the Annual Work Program and call for fund contribution to pay the Consortium expenses; render accounts to the Consortium, as established under in this Agreement and by the Operating Committee; obtain the relevant legal licenses and permits required to conduct the operations in the Contract Area; provide the non-Operator Consortium Members with access to the facilities and records of the Operations, upon their prior request; undertake assume responsibility for the payment of the Royalties payable on behalf of the ContractorsContracted Parties; represent the non-Operator Consortium Members when contacting ANP; in case of emergency, take the necessary measures to protect life, the environment, the facilities, and the equipment; keep the non-Operator Consortium Members informed of the activities in progress arising from performance of this Agreement; propose to the Operating Committee the matters of the Table of Competences and Resolutions; manage the Exploration and Production projects regarding the Agreement through a methodology based on compatible with the market references and with a structure centralized in and coordinated from a best project management officepractices in the Oil Industry, aiming at standardizing the governance processes related to Contract's provisions and the projects, as well as to planning, organization, conduct, control, documentation, and completion of its activitiesApplicable Law. Information provided by the Operator The Operator shall provide to the other Consortium Members the following data and reports as they are prepared or compiled during conduct of the Operations: copies of all records or researches, including those in electronic format, if any; daily drilling reports; copies of all essential tests and data and of analysis reports; drilling final drilling report; copy copies of the line interconnection reports; final copies of geological and geophysical maps, seismic sections, and objectives; engineering studies, development projects, and progress reports of on the development projects; daily bulletin of the Production of Oil and Gas with a record of production losses and burnings; field data and also performance reports, including Reservoir studies and reserve estimates; copies of all reports regarding material of Operations in the Contract Area or provided to ANP; copies of the engineering projects of each well, including any reviewsrevisions thereto; periodic reports with safety, health, and environment indicators regarding the Operations; and other studies and reports established by the Operating Committee. The Operator shall promptly notify the Consortium Members of administrative complaints and lawsuits related to the Operations. The Operator shall provide quarterly reports to the Consortium Members with updated administrative complaints and lawsuits related to the Operations. Additional information arising from execution conduct of the Operations in the Contract Area may be requested, at any time, to the Operator by the ContractorsContracted Parties, at their own expenses. The Manager shall receive additional information with no costs. Limitation of the Responsibilities of the Operator The Contractors are jointly liable for any losses and damages caused in the execution of the Operations and to each other, according to their respective shares, except when the Operator, at high managerial level (General Manager of the Operating Unit, Executive Manager, or equivalent, at least), proceeds with evidenced direct or eventual willful misconduct or gross negligence, cases in which it shall bear all losses, damages, costs, expenses and liabilities, and general burdens resulting therefrom on an individual basis.