Common use of Exploration and Production Clause in Contracts

Exploration and Production. The activity of exploration and production, as well as ownership of the reserves, corresponds to Repsol–YPF. Notwithstanding this fact, Gas Natural will be responsible for the acquisition of up to one-third of the gas reserves in Trinidad and Tobago that BP–Amoco makes available to the Repsol–YPF group in fulfillment of signed contracts.

Exploration and Production. The activity of exploration and production, as well as ownership of the reserves, corresponds to Repsol–-YPF. Notwithstanding this fact, Gas Natural will be responsible for the acquisition of up to one-third of the gas reserves in Trinidad and Tobago that BP–-Amoco makes available to the Repsol–-YPF group in fulfillment of signed contracts.