Common use of Lifting Clause in Contracts

Lifting. 10.4.1 Subject to the Agreement, the Contractor may lift, dispose of and export from Somalia its share of Petroleum and retain the proceeds from the sale or other disposal of that share. The Contractor may proceed with the separation of liquids from all Natural Gas produced, and may transport, store and sell on the local market or export its share of liquid Petroleum so separated. 10.4.2 The Contractor and the SPA shall, from time to time, make such arrangements between them as are reasonable necessary, in accordance with the Best International Practice, for the separate lifting of the Parties´ respective shares of Petroleum. 10.4.3 Each Party (and, as for the Contractor, each Person constituting it) shall have the right to proceed separately to the commercialisation, lifting and export of Petroleum to which it is entitled under the Agreement. 10.4.4 If so directed by the SPA in writing, the Contractor shall be obligated to lift and market part or the entire Federal Government’s share of each category of the Profit Petroleum and any Federal Government or Appointee Participating Interest share of Petroleum in a Development Area.‌ 10.4.5 If any Party fails to lift and market its share of Petroleum, the Contractor may lift and market such Party's share on its behalf. 10.4.6 the SPA shall notify the Contractor three months before the commencement of each Semester of a Calendar Year, specifying the quantity of Production of the Federal Government’s share of the Profit Oil it elects to take and receive in kind and the quantity of Production of the Federal Government’s share of the Profit Oil it elects not to take and receive in kind. If the SPA timely elects to take all or a portion of the Federal Government’s share of the Profit Oil in kind, the offtaker shall be the SPA or another Somali Governmental Authority designated by the SPA. Such notice shall be effective for the ensuing Semester. Any sale by the Contractor of the Federal Government´s share of the Profit Oil shall not, without the SPA’s prior written consent, be for a term of more than one Calendar Year. The Contractor shall have the right and obligation to market the Federal Government’s share at the then prevailing "fair market price".‌ 10.4.7 The price paid by the Contractor for the Federal Government’s share of the Profit Oil shall be the price established according to clause 11. The Contractor shall pay the Federal Government on a monthly basis, such payments to be made within thirty (30) days after the end of the month in which the Production occurred. 10.4.8 In case of the Commercial Production of Natural Gas, the Parties shall agree, when the Development Plan related to such commercialisation is adopted, on the rules applicable to the disposal of the Federal Government’s share of the Profit Gas. 10.4.9 At a reasonable time prior to the scheduled date of commencement of the Commercial Production, the Parties shall agree to procedures concerning the scheduling, storage and lifting of Petroleum produced from and sold at the agreed upon Crude Oil Delivery Point and Natural Gas Delivery Point. The procedures shall be consistent with the terms of the Agreement and shall comprise the subjects necessary for efficient and equitable operations (including, but not limited to, rights of the Parties, notification time, maximum and minimum quantities, duration of storage, scheduling, conservation, spillage, liabilities of the Parties, throughput fees and penalties, over and underlifting, safety and emergency procedures and any other matters that may be agreed by the Parties).

Lifting. 10.4.1 Subject to the Agreement, the Contractor may lift, dispose of and export from Somalia its share of Petroleum and retain the proceeds from the sale or other disposal of that share. The Contractor may proceed with the separation of liquids from all Natural Gas produced, and may transport, store and sell on the local market or export its share of liquid Petroleum so separated. 10.4.2 The Contractor and the SPA shall, from time to time, make such arrangements between them as are reasonable necessary, in accordance with the Best International Practice, for the separate lifting of the Parties´ respective shares of Petroleum. 10.4.3 Each Party (and, as for the Contractor, each Person constituting it) shall have the right to proceed separately to the commercialisation, lifting and export of Petroleum to which it is entitled under the Agreement. 10.4.4 If so directed by the SPA in writing, the Contractor shall be obligated to lift and market part or the entire Federal Government’s share and the Federal Member State’s shares of each category of the Profit Petroleum and any Federal Government or Appointee Participating Interest share of Petroleum in a Development Area.‌Area. 10.4.5 If any Party fails to lift and market its share of Petroleum, the Contractor may lift and market such Party's share on its behalf. 10.4.6 the SPA shall notify the Contractor three months before the commencement of each Semester of a Calendar Year, specifying the quantity of Production of the Federal Government’s share of the Profit Oil it elects to take and receive in kind and the quantity of Production of the Federal Government’s share of the Profit Oil it elects not to take and receive in kind. If the SPA timely elects to take all or a portion of the Federal Government’s share of the Profit Oil in kind, the offtaker shall be the SPA or another Somali Governmental Authority designated by the SPA. Such notice shall be effective for the ensuing Semester. Any sale by the Contractor of the Federal Government´s share of the Profit Oil shall not, without the SPA’s prior written consent, be for a term of more than one Calendar Year. The Contractor shall have the right and obligation to market the Federal Government’s share at the then prevailing "fair market price".‌price". 10.4.7 The price paid by the Contractor for the Federal Government’s share of the Profit Oil shall be the price established according to clause 11. The Contractor shall pay the Federal Government on a monthly basis, such payments to be made within thirty (30) days after the end of the month in which the Production occurred. 10.4.8 In case of the Commercial Production of Natural Gas, the Parties shall agree, when the Development Plan related to such commercialisation is adopted, on the rules applicable to the disposal of the Federal Government’s share of the Profit Gas. 10.4.9 At a reasonable time prior to the scheduled date of commencement of the Commercial Production, the Parties shall agree to procedures concerning the scheduling, storage and lifting of Petroleum produced from and sold at the agreed upon Crude Oil Delivery Point and Natural Gas Delivery Point. The procedures shall be consistent with the terms of the Agreement and shall comprise the subjects necessary for efficient and equitable operations (including, but not limited to, rights of the Parties, notification time, maximum and minimum quantities, duration of storage, scheduling, conservation, spillage, liabilities of the Parties, throughput fees and penalties, over and underlifting, safety and emergency procedures and any other matters that may be agreed by the Parties).

Lifting. 10.4.1 9.4.1 Subject to the Agreement, the Contractor may lift, dispose of and export from Somalia its share of Petroleum and retain the proceeds from the sale or other disposal of that share. The Contractor may proceed with the separation of liquids from all Natural Gas produced, and may transport, store and sell on the local market or export its share of liquid Petroleum so separated, which will be considered as Crude Oil for purposes of sharing thereof between the Parties. 10.4.2 9.4.2 The Contractor and the SPA Minister of Petroleum shall, from time to time, make such arrangements between them as are reasonable necessary, in accordance with the Best International PracticePetroleum Industry Practices, for the separate lifting of the Parties´ respective shares of Petroleum. 10.4.3 9.4.3 Each Party (and, as for the Contractor, each Person constituting it) shall have the right to proceed separately to the commercialisation, lifting and export of Petroleum to which it is entitled under the Agreement. 10.4.4 9.4.4 If so directed by the SPA Minister of Petroleum in writing, the Contractor shall be obligated to lift and market part or the entire Federal Government’s Government´s share of each category of the Profit Petroleum and any Federal Government or Appointee Participating Interest share of Petroleum in a Development Area.‌Area. 10.4.5 9.4.5 If any Party fails to lift and market its share of Petroleum, the Contractor may lift and market such Party's share on its behalf. 10.4.6 9.4.6 When the SPA Minister of Petroleum elects not to take and receive in kind any part of a category of the Federal Government´s share of the Profit Oil, the Minister of Petroleum shall notify the Contractor three months before the commencement of each Semester of a Calendar Year, specifying the quantity of Production of the Federal Government’s share of the Profit Oil it elects to take and receive in kind and the quantity of Production of the Federal Government’s share of the Profit Oil it elects not to take and receive in kind. If the SPA timely elects to take all or a portion of the Federal Government’s share of the Profit Oil in kind, the offtaker shall be the SPA or another Somali Governmental Authority designated by the SPAProduction. Such notice shall be effective for the ensuing Semester. Any sale by the Contractor of the Federal Government´s share of the Profit Oil shall not, without the SPA’s Minister of Petroleum's prior written consent, be for a term of more than one Calendar Year. The Contractor shall have the right and obligation to market the Federal Government’s 's share at the then prevailing "fair market price".‌price". 10.4.7 9.4.7 The price paid by the Contractor for the Federal Government’s Government´s share of the Profit Oil shall be the price established according to clause 1110. The Contractor shall pay the Federal Government on a monthly basis, such payments to be made within thirty ([30) ] days after the end of the month in which the Production occurred. 10.4.8 9.4.8 In case of the Commercial Production of Natural Gas, the Parties shall agree, when the Development Plan related to such commercialisation is adopted, on the rules applicable to the disposal of the Federal Government’s Government´s share of the Profit Gas. 10.4.9 9.4.9 At a reasonable time prior to the scheduled date of commencement of the Commercial Production, the Parties shall agree to procedures concerning the scheduling, storage and lifting of Petroleum produced from and sold at the agreed upon the Crude Oil Delivery Point and the Natural Gas Delivery Point. The procedures shall be consistent with the terms of the Agreement and shall comprise the subjects necessary for efficient and equitable operations (including, but not limited to, rights of the Parties, notification time, maximum and minimum quantities, duration of storage, scheduling, conservation, spillage, liabilities of the Parties, throughput fees and penalties, over and underlifting, safety and emergency procedures and any other matters that may be agreed by the Parties).