Lifting. (a) Subject to this Agreement, each Contractor may lift, dispose of and export from Timor-Leste its share of Petroleum and retain the proceeds from the sale or other disposition of that share. (b) The Contractors and the Ministry shall, from time to time, make such agreements between them as are reasonably necessary, in accordance with Good Oil Field Practice and the commercial practices of the international petroleum industry, for the separate lifting of their shares of Petroleum.
Appears in 1 contract
Sources: Production Sharing Contract
Lifting. (a) Subject to this Agreement, each Contractor may lift, dispose of and export from Timor-Timor- Leste its share of Petroleum and retain the proceeds from the sale or other disposition of that share.
(b) The Contractors and the Ministry shall, from time to time, make such agreements between them as are reasonably necessary, in accordance with Good Oil Field Practice and the commercial practices of the international petroleum industry, for the separate lifting of their shares of Petroleum.
Appears in 1 contract
Sources: Production Sharing Contract