Recovery of Petroleum Costs. 13.1.1 Starting from the Date of First Production of Commercial Hydrocarbons, the CONTRACTOR shall market all of the production of Crude Petroleum obtained from the Contract Area, pursuant to the provisions defined below, exception of the share to which the STATE is entitled and which it decides to take in kind in accordance with Article 13.3 below.
Recovery of Petroleum Costs. 25.1 All Export Crude Oil produced and saved from the Contract Area shall, after deduction of any quantities of Export Crude Oil due for Royalty pursuant to Article 24, be considered as “Available Crude Oil”. All Associated Natural Gas produced and saved from the Contract Area, except for Associated Natural Gas which is used in Petroleum Operations, re-injected in a Petroleum Field, lost, flared or cannot be used or sold, shall be considered as “Available Associated Natural Gas”. All Export Non-Associated Natural Gas produced and saved from the Contract Area shall, after deduction of any quantities of Export Non-Associated Natural Gas due for Royalty pursuant to Article 24, be considered as “Available Non-Associated Natural Gas”.
Recovery of Petroleum Costs. 14.2.1 Subject to provisions of Article 26 and Supplement C, in case of a Commercial Discovery the Investor shall be entitled to recover one hundred percent (100 %) of its approved Petroleum Costs incurred in the Original Agreement Area (hereinafter referred to as "Cost Oil" and/or "Cost Gas" and collectively as "Cost Petroleum").
Recovery of Petroleum Costs. 21.1 The Contractor shall have the right to recover the Petroleum Costs that it has borne in relation to the Demarcated Area, through the levy of a portion of the Net Production in accordance with the conditions set out below. The recovery shall be capped at the rate of [indicate the rate in letters] [indicate the rate in numbers] for Liquid Hydrocarbons and [indicate the rate in letters] ([indicate the rate in numbers] for Gaseous Hydrocarbons of the Net Production obtained during one Calendar Year. The Contractor has the right to recover the Petroleum Costs incurred through the exploration made in the Demarcated Area. When the Total Available Production comes from several Exploitation Areas located within the Demarcated Area, the recovery of the Petroleum Costs is made through the levy on the portion of the Net Production from all such Exploitation Areas. The recovery of Petroleum Costs may not, under any circumstance, be done by way of levy on the production of Hydrocarbons coming from deposits located outside of the Demarcated Area.
Recovery of Petroleum Costs. (a) Contractor shall have the right to recover Petroleum Costs out of Production in the manner set out in this Agreement.
Recovery of Petroleum Costs. RELATING TO CRUDE OIL AND PRODUCTION SHARING 16.1. Since beginning regular production of Crude Oil, the Contractor shall sell all production of Crude Oil obtained from the Delimited Region, in accordance with the provisions below defined. 16.2. To recover the Petroleum Costs, the Contractor may take, free of charge every Calendar Year, a portion of the production of Crude Oil which under no circumstances shall exceed seventy-five percent (75%) of the Total Production of Crude Oil of the Delimited Region, or only a lesser percentage that would be necessary and sufficient to recover the Petroleum Costs actually incurred and paid. If, during the course of a Calendar Year, the Petroleum Costs not yet recovered by the Contractor pursuant to the provisions of this article, exceed the equivalent ofseventy-five percent (75%) of the value of the Total Production of Crude Oil from the Delimited Region, the balance of the 28 Petroleum Costs that cannot be recovered in the Calendar Year in question shall be carried forward to the following Calendar Year(s) until recovery in full of the Petroleum Costs. The Contactor will benefit from a twenty per cent (20%) investment credit applied to Development Expenditures actually incurred as part of the execution of the development plan(s) approved by the Government including subsequent amendments submitted by the Contractor and approved by the Government even if these Development Expenditures are made after the start of production ("Investment Credit"). The Investment Credit will be applied annually at a single time on the relevant Development Expenditures, will not be capitalizable, and will be added to the Development Expenditures that the Contractor will be entitled to recover in respect of the Petroleum Costs in accordance with this article 16.2. 16.3. The quantity of Crude Oil from the Delimited Region remaining during the course of each Calendar Year after the Contractor has taken from the Total Production of Crude Oil the portion necessary for recovery of the Petroleum Costs in accordance with the provisions of article 16.2, hereinafter referred to as “Remaining Production,” shall be shared between the Government and the Contractor in the following manner: Portion of Total Daily Production of Crude Oil (in Barrels/day) Contractor’s Participating Interest in the Remaining Production From 0 to 50,000 From 50,001 to 100,000 From 100,001 to 150,000 Over 150,000 62% multiplied by H 57% multiplied by H 52% multiplied by H 47% ...
Recovery of Petroleum Costs. 24.1.The Contractor is entitled to recover the Petroleum Costs it has defrayed within the Delimited Area, by lifting a portion of the Hydrocarbon production exclusively from that area. The recovery of Petroleum Costs may not in any case be achieved by drawing on the production of Hydrocarbons from Fields outside the Delimited Area. For the application of the foregoing paragraph, the Contractor shall keep a Petroleum Cost Account, in compliance with Article 26.9 and the Accounting Agreement.
