Common use of DEVELOPMENT EXPENDITURE Clause in Contracts

DEVELOPMENT EXPENDITURE. Development Expenditure shall consist of all expenditure incurred in Development Operations, including but not limited to expenditure on: a) drilling ▇▇▇▇▇ which are completed as producing ▇▇▇▇▇ and drilling ▇▇▇▇▇ for purposes of producing a Petroleum reservoir already discovered, whether these ▇▇▇▇▇ are dry or producing; b) tangible drilling costs for completing ▇▇▇▇▇ such as installation of casing or equipment or otherwise equipping a well after it has been drilled for the purpose of bringing such well into use as a producing well; c) intangible drilling costs such as labour, consumable material and services having no salvage value which are incurred in drilling and deepening of ▇▇▇▇▇ for producing purposes; d) field facilities such as pipelines, flow lines, production and treatment units, wellhead equipment, subsurface equipment, enhanced recovery systems, offshore platforms and production facilities, Petroleum storage facilities (whether offshore or onshore) and access roads for Production Operations; e) engineering and design studies for field facilities; f) all service costs allotted to Development Operations on an equitable basis; g) all General and Administrative Expenses (incurred within or outside Ghana) allocated to Development Operations based on the percentage share of projected budget expenditure which will be adjusted to actual expenditure as the end of the year.

DEVELOPMENT EXPENDITURE. Development Expenditure shall consist of all expenditure incurred in Development Operations, including but not limited to to, expenditure onfor: a) drilling ▇▇▇▇▇ which are completed as producing ▇▇▇▇▇ and drilling ▇▇▇▇▇ for purposes of producing a Petroleum reservoir already discovered, whether these ▇▇▇▇▇ are dry or producing; b) tangible drilling costs for completing ▇▇▇▇▇ such as installation of casing or equipment or otherwise equipping a well after it has been drilled for the purpose of bringing such well into use as a producing well; c) intangible drilling costs such as labour, consumable material and services having no salvage value which are incurred in drilling and deepening of ▇▇▇▇▇ for producing purposes; d) field facilities such as pipelines, flow lines, production and treatment units, wellhead equipment, subsurface equipment, enhanced recovery systems, offshore platforms and production facilities, Petroleum storage facilities (whether offshore or onshore) and access roads for Production Operations; e) engineering and design studies for field facilities; f) all service costs allotted allocated to Development Operations on an equitable basis; g) all General and Administrative Expenses (incurred within or and/or outside Ghana) allocated to Development Operations based on the percentage share of projected budget expenditure which will be adjusted to actual expenditure as at the end of the year.