V GOVERNMENT REVENUE – Pursuant to article 29, X, of Law No. 12,351/2010, the Contractor shall pay the following Government Revenue: Signature bonus in the amount of XXX Reais (R$XXX), paid as follows: XXX Reais (R$XXX) through the Federal Government Payment Form (GRU), directly to the National Treasury Secretariat’s account, and XXX Reais (R$XXX), directly to the Manager’s account. Royalties in the amount corresponding to fifteen percent (15%) of the Volume of Production of Oil and Gas in the Contract Area. VI – General Considerations The general instructions for the Exploration Plan define the objective and the content and set the procedures for its submission to the National Agency of Petroleum, Natural Gas and Biofuels ANP. – The Exploration Plan shall encompass at least the Minimum Exploration Program. Development of the activities of the Minimum Exploration Program may start before approval of the Exploration Plan, as long as ANP is previously notified. The first Exploration Plan shall be submitted by the Consortium Members no later than one hundred and twenty (120) days of the date established in the Agreement for creation of the Operating Committee. In case the Consortium Members are interested in developing exploration activities additional to the Minimum Exploration Program, they shall submit a revised Exploration Plan to ANP upon at least one hundred-twenty (120)-day notice from the beginning of such activities. The activities additional to the Minimum Exploration Program shall start after approval of the Exploration Plan. At its sole discretion, ANP may authorize the beginning of the activities additional to the Minimum Exploration Program before approval of the Exploration Plan.
V – GOVERNMENT REVENUE Pursuant to article 29, X, of Law No. 12,351/2010, the Contractor shall pay the following Government Revenue: Signature bonus in the amount of XXX Reais (R$XXX), paid as follows: XXX Reais (R$XXX) through the Federal Government Payment Form (GRU), directly to the National Treasury Secretariat’s account, and XXX Reais (R$XXX), directly to the Manager’s account. Royalties in the amount corresponding to fifteen percent (15%) of the Volume of Production of Oil and Gas in the Contract Area. VI – General Considerations The general instructions for the Exploration Plan define the objective and the content and set the procedures for its submission to the National Agency of Petroleum, Natural Gas and Biofuels – ANP. The Exploration Plan shall encompass at least the Minimum Exploration Program. Development of the activities of the Minimum Exploration Program may start before approval of the Exploration Plan, as long as ANP is previously notified. The first Exploration Plan shall be submitted by the Consortium Members no later than one hundred and twenty (120) days of the date established in the Agreement for creation of the Operating Committee. In case the Consortium Members are interested in developing exploration activities additional to the Minimum Exploration Program, they shall submit a revised Exploration Plan to ANP upon at least one hundred-twenty (120)-day notice from the beginning of such activities. The activities additional to the Minimum Exploration Program shall start after approval of the Exploration Plan. At its sole discretion, ANP may authorize the beginning of the activities additional to the Minimum Exploration Program before approval of the Exploration Plan.
ingles_minuta_contrato_lpp3_com_operacao_petrobras.docx