Common use of VALUE OF PRODUCTION STATEMENT Clause in Contracts

VALUE OF PRODUCTION STATEMENT. 31.15.1 Licensee shall prepare a statement providing calculations of the value of Crude Oil produced and saved during each Quarter based on the Market Price established under the Agreement. Such Statement shall be submitted to the Director General not later than sixty (60) days following the determination, notification and acceptance of the World Market Price to the Director General according to the Licence.

VALUE OF PRODUCTION STATEMENT. 31.15.1 32.15.1 Licensee shall prepare a statement providing calculations of the value of Crude Oil produced and saved during each Quarter based on the Market Price established under the Agreement. Such Statement shall be submitted to the Director General not later than sixty (60) days following the determination, notification notification, and acceptance of the World Market Price to the Director General according to the Licence.

VALUE OF PRODUCTION STATEMENT. 31.15.1 Licensee shall prepare a statement providing calculations of the value of Crude Oil produced and saved during each Quarter based on the Market Price established under the Agreement. Such Statement shall be submitted to the Director General not later than sixty thirty (6030) days following the determination, notification and acceptance of the World Market Price to the Director General according to the LicenceLicense.