However if there is no passage other than through

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However, if there is no passage, other than through these areas to reach a particular point beyond these areas, permission of the appropriate authorities shall be obtained. 14.11 The obligations and liability of the Contractor for the environment hereunder shall be limited to damage to the environment which: (a) occurs after the Effective Date; and (b) results from an act or omission of the Contractor. ARTICLE 15 REVENUE SHARE 15.1 “Revenue” for the purposes of determining the Revenue Share under this Contract shall be determined as follows: (i) all amounts that are accruing to the Contractor on account of or in relation to the Petroleum Produced and Saved, from the Contract Area, during a month after the Effective Date (including any amounts accruing due to any transaction relation to Petroleum Produced and Saved during the Exploration Period, Development Phase, and during Commercial Production) shall be included in computing the Revenue for the relevant month. It is clarified that the accounting for Revenue, under this Contract, shall be undertaken by the Contractor on an accrual basis irrespective of the date when such amount is either billed or received by the Contractor; (ii) all amounts accrued in relation to Petroleum Produced and Saved in a month (remaining after deducting Royalty payments required to be made by the Contractor, in the relevant month) shall be taken into account for determining the Revenue;
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40 (iii) amounts attributable to “marketing margin” (as and when determined and made applicable under applicable law) shall be taken into account towards determining the Revenue; (iv) all amounts accruing from any monetization of the Petroleum in the Reservoir, or any amounts received from any transaction relating to monetization of the potential of a Contract Area, shall also be taken into account towards determining the Revenue. Provided however, any debt financing received by the Contractor shall be excluded from being accounted towards Revenue; (v) the value for the Petroleum given in a relevant transaction even if such transaction is based on a swapping arrangement (irrespective of the actual price or cost at which the Petroleum is being delivered under such swapping arrangement)shall be taken into account for computing the Revenue; and (vi) the value for the Petroleum given in a relevant transaction irrespective of whether such transaction is for cash or kind, shall be taken into account for computing the Revenue; 15.2 The Government’s Revenue Share in each month from the Effective Date shall be determined in accordance with this Article 15 read with Appendix D. The Contractor shall pay the Government on a monthly basis (in accordance with Article 15.5 below), the Government’s Revenue Share from the Revenue for such month (as determined in accordance with Article 15.1 from the Contract Area, in accordance with the provisions of this Article 15.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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