Cost Oil definition

Cost Oil shall have the meaning set out in sub-clause 27(1);

Cost Oil means the quantum of Available Crude Oil allocated to the Contractor for recovery of Operating Costs after the allocation of Royalty Oil to the State;

Cost Oil means the quantity of crude oil allocated to the Contractor in accordance with the terms of the PSC for the recovery of allowable Costs by Contractor.

Examples of Cost Oil in a sentence

• The allocation of Cost Oil shall be as required to recover, in the sequence incurred, all Petroleum Costs and which are recoverable in such Calendar Quarter.

• For the purposes of recovery of Petroleum Costs, the total quantity of Hydrocarbons which are produced and saved from all Development Leases in a Calendar Quarter and to which the Parties are entitled under the Concession shall be designated as either Cost Oil or Production Sharing Oil.

• The amounts of unrecovered Operating Expenditures, Development Expenditures and Exploration Expenditures that cannot be reimbursed from Cost Oil pursuant to Sub-article 13.5, shall be carried forward for recovery in the succeeding Calendar Quarter(s) until fully recovered or this Contract terminates.

• In any Calendar Quarter the amount of Crude Oil distributed in accordance with Sub-articles 13.2, 13.3 and 13.4 shall not exceed eighty percent (80%) of Gross Production after all Royalties have been paid, denoted as the Cost Oil ceiling.

• Subject to each of the Farmout Agreements and Article 19.4, Cost Oil shall be allocated in accordance with the Parties' respective Participating Interests.

More Definitions of Cost Oil

Cost Oil has the meaning assigned in Article 35;

Cost Oil means the portion of the Available Oil as set out in accordance with Article 6 that the Contractor may freely retain each Calendar Year for the purposes of recovery of its Hydrocarbons Costs.

Cost Oil means that portion of the total production of Hydrocarbons, if any, which is allocated to the Parties under the Contract for the recovery of Petroleum Costs.

Cost Oil means the quantum of Available Crude Oil allocated to an Operator to enable it to generate the proceeds to recover costs as specified in an EPA.

Cost Oil means the amount of produced Crude Oil allocated to Contractor for recovery of expenditures pursuant to Sub-articles 13.2, 13.3, 13.4 and 13.5.

Cost Oil means a maximum percentage of available crude oil allocated to Addax Petroleum for recovery of costs, including exploration, development and production costs and expenses after the allocation of Royalty Oil;

Cost Oil means the portion of the Available Oil, less the quantity corresponding to the value required for Royalty payment, as set out in accordance with Article 14., that the Investor may retain each Calendar Year „Troškovna nafta” znači dio Pridobivene nafte, umanjene za količine xxxxxxxx xx xxxxxxxx Xxxxxxx xx pridobivene količine ugljikovodika u skladu s člankom 14., koji Investitor može zadržati svake Kalendarske godine za potrebe for the purposes of recovery of its Petroleum Costs. povrata svojih Troškova ugljikovodika.