Petroleum Costs definition

Petroleum Costs means those expenditures made and obligations incurred by the Contractor in carrying out Petroleum Operations hereunder, determined in accordance with this Contract and the Accounting Procedure attached hereto in Appendix "B" and made a part hereof;

Petroleum Costs means costs incurred by the CONTRACTOR and by the STATE, if applicable, for the performance of Petroleum Operations pursuant to this Contract and to the Accounting Procedure.

Petroleum Costs means recoverable costs and expenditures incurred and payments made by Contractor and/or Operator in connection with or in relation to the conduct of Petroleum Operations (except corporate income taxes paid in the Republic of Iraq or elsewhere, or as otherwise stipulated herein) determined in accordance with the provisions of this Contract and the Accounting Procedures.

Examples of Petroleum Costs in a sentence

• Values and treatments proposed by the CONTRACTOR relating to all Petroleum Costs shall be subject to challenge by the GOVERNMENT in the course of audit to ensure that they are in accordance with the provisions of this Accounting Procedure.

• For the avoidance of doubt, all expenditure incurred by the CONTRACTOR up to such agreed delivery point shall be considered Petroleum Costs and shall be recovered by the CONTRACTOR in accordance with the provisions of Articles 1 and 25.

• For the avoidance of doubt, such expenditure incurred shall be considered Petroleum Costs and shall be recovered by the CONTRACTOR in accordance with the provisions of Articles 1 and 25.

• Petroleum Costs shall be segregated in accordance with the purposes for which such Petroleum Costs are made.

• The form of such assistance shall be mutually agreed by the Parties and any costs associated therewith shall be considered Petroleum Costs and shall be recovered by the CONTRACTOR in accordance with the provisions of Articles 1 and 25.

More Definitions of Petroleum Costs

Petroleum Costs means expenditure made and obligations incurred and paid by the contractor in carrying out upstream petroleum operations hereunder, determined in accordance with the accounting procedure attached hereto in Appendix “B” and made a part hereof;

Petroleum Costs means costs and expenses incurred by the Parties and allowed to be recovered pursuant to the Contract.

Petroleum Costs means all expenditures made and costs incurred, both within and outside Ghana, in conducting Petroleum Operations hereunder determined in accordance with the Accounting Guide attached hereto as Annex 2;

Petroleum Costs means all expenditures incurred by a Contractor in conducting Petroleum Operations and which are defined in a Petroleum Agreement.

Petroleum Costs means all expenditures incurred by the parties to a Contract that such parties are entitled to recover in accordance with the relevant Contract;

Petroleum Costs means all costs and expenses incurred in carrying out the Petroleum Operations under this Contract.

Petroleum Costs means the sole reasonable, necessary expenses, directly associated with the carrying out of the petroleum operations, that is to say exploration, development, exploitation, abandonment and dismantlement of xxxxx and facilities, actually paid and approved by the Government from the signature of the contract on 22 September 2006. Expenses incurred prior to the date of 22 September 2006 should not be recoverable] with the exclusion of the royalty. Petroleum costs and any limitations on recoverability are specified under the accounting procedure.