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To provide management with reasonable assurance the offered items meet the commerciality test, the system should be able to select individual product sales data on the basis of identified customer end user and determine if in fact sales were made at catalog price.
Under the terms of the Association Contract, Ecopetrol has the right to back into the Juanambu oil field for a 30% interest upon declaration of commerciality.
Noble Energy, the first company to discover natural gas resources offshore Cyprus, said in a press release that along with its partners Delek and Avner, filed a Declaration of Commerciality for development of the Aphrodite field.
There is still a long way to go, especially as regards commercial agreements that need to be made, but surely the submission of a development plan and declaring commerciality of the reserve would be a very important event, a step forward for our country," Lakkotrypis said.
As per the declaration of commerciality by the department, the plans which are valid till 25 years will l proceed to the development stage.
In an interview with the Economic Times, a director of OVL confirmed the development adding that NIOC has approved the commerciality report of the gas discovery.
It is important that de Vos's successor builds on those foundations by considering options to further increase the commerciality of the club.
Further drilling is necessary to determine the extent and the commerciality of the discovery.
The emphasis is on commerciality, proven business links and worth to the relevant business.
Inquiries may well be settled once the inspector is happy the rules on periods for available and actual letting are being met but we are increasingly seeing the issue of commerciality raised.
This genre has the best track record of commerciality that there is,'' Simon says of positive fantasy films.
Also he said the annual report of Delek was due, which according to him would contain important information on the declaration of commerciality for the Aphrodite field .
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