Common use of Operating Profit Clause in Contracts

Operating Profit. 4.1 The Operating Profit will be determined for each Period and will be obtained by subtracting from the value that results from the sum of the Contractual Value of Hydrocarbons and other revenues indicated in subsection 8.5 of this Annex 3, the Recoverable Costs Reimbursement and the Royalties actually paid to the State, in accordance with the following formula: UOt = Operating Profit during Period t. lAT = Additional revenues indicated in subsection 8.5 of this Annex 3. VCHt = Contractual Value of the Hydrocarbons during Period CRt = Recovery of Costs in Period t. Rt = Royalties actually paid to the State during Period t.

Operating Profit. 4.1 The Operating Profit will be determined for each Period and will be obtained by subtracting from the value that results from the sum of the Contractual Value of Hydrocarbons and other revenues indicated in subsection 8.5 of this Annex 33 in the relevant Month, the Recoverable Costs Reimbursement and the Royalties actually paid to the State, in accordance with the following formula: UOt Where: = Operating Profit during in Period t. lAT . = Additional revenues indicated in subsection 8.5 of this Annex 3. VCHt = Contractual Value of the Hydrocarbons during in Period . CRt = Recovery of Costs in Period t. . Rt = Royalties actually paid to the State during in Period t..