42ForthepurposeofreportingFieldproductionquantitiespursuanttothisSectiontheContr

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4.2ForthepurposeofreportingFieldproductionquantitiespursuanttothisSection,theContractorshall agreewiththeManagementCommitteeontheexactareatobedesignatedasDevelopmentArea. 4.3 TheGovernment may direct in writing that the Contractor include other reasonable particulars relating to the production of Petroleum in its monthly Production Statement, and the Contractor shall comply with suchdirection. 4.4TheProductionStatementforeachMonthshallbesubmittedtoGovernmentnolaterthanfifteen(15)daysaftert heendofsuchMonth. SECTION-5 VALUEOFPRODUCTIONANDPRICINGSTATEMENT 5.1 TheContractorshallprepare a report providing calculationsofthevalueofCrudeOilandCondensateproducedandsavedduringeachMonth. This Statementshallcontainthefollowinginformation: 5.1.1 Thequantities,andpricesofsalesofCrudeOilandCondensatetothirdpartiesmadeduringtheMonthin question. 5.1.2 Thequantities,andpricesofsalesofCrudeOilandCondensatemadeduringtheMonthinquestion,oth er thantothirdparties,ifany. 5.1.3 ThequantitiesofCrudeOilandCondensateappropriatedbytheContractortorefiningorotherproces sing withoutotherwisebeingdisposedofintheformofCrudeOilorCondensate. 5.1.4 ThevalueofstocksofCrudeOilandCondensateonthefirstdayoftheMonthinquestion. 5.1.5 ThevalueofstocksofCrudeOilandCondensateonthelastdayoftheMonthinquestion.
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79 5.1.6 ThepercentagevolumeoftotalsalesofCrudeOilandCondensatemadebytheContractorduringtheM onth tothirdparties. 5.1.7 Information available to the Contractor, insofar as required for the purposes ofArticle 20of the Contract, concerning the prices of competitive crude oils produced by the main petroleum producing and exporting countriesincludingcontractprices,discountsandpremia,andpricesobtainedonthespotmarkets. 5.2 TheContractorshall,forthepurposeofArticle20oftheContract,prepareaStatementproviding calculationsofthevalueof AssociatedNaturalGasandNon AssociatedNaturalGasproduced,flared internallyused,savedandsoldduringeachMonth. ThisStatementshallcontainallinformationofthe type specified in Section 5.1 for Crude Oil as is applicable to Gas and such other relevant information as mayberequiredbyGovernment. 5.3 TheStatementsrequiredpursuanttoSections5.1and5.2shallincludeadetailedbreakdownofthe calculationofthepricesofCrudeOil,Condensate, AssociatedNaturalGasandNon AssociatedNatural GaspursuanttotheprovisionsofArticle20. 5.4 TheValueofProductionandPricingStatementforeachMonthshallbesubmittedtoGovernmentnot laterthanthirty(30)daysaftertheendofsuchMonth. SECTION-6 STATEMENTOFINCOME 6.1 The Contractor shall prepare with respect to each Quarter a Statement of Income under the Contract using mercantile basis of accounting. The Statement of Income shall distinguish between income from the sale of Petroleum and incidental income, if any. If the Government is not satisfied with the degree of information it shall be entitled to request a more detailed breakdown. The Statement shall show the following: 6.1.1 The total amount of Petroleum Produced and Savedto be shared between the Government and the Contractor in the Quarter in question.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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