Common use of CALCULATION OF THE R FACTOR Clause in Contracts

CALCULATION OF THE R FACTOR. Production distribution based on the R factor will be applied as of the first day of the third calendar month following that when the accrued production in the Contract Area reached 60 million barreis of liquid Hydrocarbons or 420 giga cubic feet of gaseous Hydrocarbons at standard conditions, in keeping with 14.2.1 The R Factor for calculation each Commercial Field will be based on the accounting closing for the calendar month when accrued production reached 60 million barrels of liquid Hydrocarbons or 420 giga cubic feet of gaseous Hydrocarbons at standard conditions, in keeping with14.2.1 The resulting distribution will be applied until 30th June of the following year. Thereafter, R factor production distribution will be made for one-year periods (lst July to 30th June) for liquidation thereof based on accrued value at 31st December of the previous year as shown in the respective accounting closing.

CALCULATION OF THE R FACTOR. Production distribution based on the R factor will be applied as of the first day of the third calendar month following that when the accrued production in the Contract Area reached 60 million barreis of liquid Hydrocarbons or 420 giga cubic feet fet of gaseous Hydrocarbons at standard conditions, in keeping with 14.2.1 The R Factor for calculation each Commercial Field will be based on the accounting closing for the calendar month when accrued production reached 60 million barrels of liquid Hydrocarbons or 420 giga cubic feet of gaseous Hydrocarbons at standard conditions, in keeping with14.2.1 The resulting distribution will be applied until 30th June of the following year. Thereafter, R factor production distribution will be made for one-year periods (lst July to 30th June) for liquidation thereof based on accrued value at 31st December of the previous year as shown in the respective accounting closing.