2. Article

1. a)) Wages, salaries, living or housing allowances, moving
2. a)) The term of the first exploratory phase (hereinafter "First
3. 1)) if the Company defaults in performance of its work
4. b)) The term of the second exploratory phase (hereinafter
5. b)) Payments made under this License, including but not limited
6. 2)) if the activities of the Company cause damage to the
7. 1)) if the Company defaults in performance of its work
8. c)) Overhead and administrative expenses, whether incurred
9. a)) to relinquish the License Area as provided in Article V;
10. d)) Expenditures that are reasonably attributed to the
11. 14)) days after receipt of notice from the Government of Latvia of
12. b)) to obtain upon application to the Government an extension
13. 2)) the Company shall be insured so as to enable it to fully
14. c)) to proceed into the Second Exploratory Phase, which shall
15. e)) Taxes (except the payments of the natural resources tax
16. a)) reprocess all of the seismic data from the License Area
17. f)) Interest and other costs attributable to debt incurred to
18. b)) drill one Exploratory Well in the License Area into the
19. g)) An allowance for depreciation or amortization as provided
20. a)) the Development Area;
21. h)) Losses due to calamity, including fires, floods, storms and
22. i)) Legal expenses and costs of litigation incurred in
23. b)) the Development Operations to be carried out, including the
24. c)) Licensee's plans for the spacing, drilling and completion
25. j)) Costs of measures taken for the protection, restoration, or
26. d)) the estimated production profiles for Crude Oil and Natural
27. k)) Debts written off as uncollectible in cases when debtors
28. e)) the cost estimates of capital and recurrent
29. l)) Insurance costs for insurance which cannot be obtained in
30. f)) the economic feasibility studies carried out by or for the
31. m)) Dismantling or abandonment costs of facilities, material
32. n)) Material, equipment, machinery, articles, supplies,
33. g)) the safety measures to be adopted in the course of the
34. o)) Transportation, storage, handling, and marketing of
35. h)) the necessary measures to be taken for the protection of
36. p)) Foreign currency losses;
37. j)) any proposed unitization agreement.
38. q)) All other costs reasonably incurred with respect to
39. a)) if the estimated production profiles specified in Article
40. b)) if the approved total cost estimates of capital and
41. c)) if significant changes to approved safety and environmental
42. a)) to suspend the Government's right to purchase under this
43. b)) if payment plus interest is not received by Licensee by one
44. a)) A Company's gross income shall mean the total proceeds
45. b)) A Company's taxable income shall be computed by subtracting
46. c)) If the calculation of taxable income results in a loss for
47. d)) Except as provided in sub-paragraph e), each Company's
48. e)) Each Company shall be exempt from income tax for a period
49. f)) Each Company's income tax liability shall be computed and
50. g)) The provisions of this Article 14.2 shall apply separately
51. a)) Any tax on either net or gross income, other than the
52. b)) All taxes, duties or levies on or in respect of
53. c)) All taxes, duties or levies on any distribution of proft or
54. d)) All turnover, sales, value-added, excise taxes or similar
55. e)) All taxes, fees, duties, excise or export taxes upon the
56. f)) All customs and import duties, taxes, fees or levies on any
57. g)) All customs and import and/or export duties, taxes, fees or
58. h)) All taxes, duties or levies imposed on or in respect to
59. i)) All taxes, duties or levies imposed on or in respect of
60. j)) All other contributions other than generally applicable,
61. a)) Except as provided in effective taxation treaties or in
62. b)) Non-resident employees, of each Company, their Affiliates,
63. c)) Unless a longer period is provided in effective taxation
64. b)) The income tax rate applicable to foreign Sub-Contractors
65. a)) open, maintain and operate Foreign Exchange bank accounts
66. b)) pay their foreign Sub-Contractors directly abroad in
67. c)) export any Petroleum or other asset which is permitted to
68. d)) receive abroad, remit abroad, retain abroad and use without
69. e)) acquire abroad any loans necessary for the Petroleum
70. f)) purchase local currency as necessary for the local
71. g)) transfer abroad any Foreign Exchange in excess of such
72. h)) employ in Latvia such expatriate employees as may be
73. i)) the Government shall provide such attestations as may be
74. a)) open, maintain and operate Foreign Exchange bank accounts
75. b)) receive abroad, remit abroad, retain abroad and use without
76. c)) purchase local currency as necessary for local
77. a)) proceedings shall, unless otherwise agreed in writing by
78. b)) the English language shall be the official language for all
79. c)) the decision of a majority of the arbitrators shall be
80. (3)) proposed experts. The other Parties shall respond to such
81. (30)) days in which to accept one or to reject all of the experts
82. a)) in accordance with the provisions of said Article, or
83. b)) following the completion of any Work Program obligation for
84. a)) Ministry of Economy
85. b)) AMOCO LATVIA PETROLEUM COMPANY
86. c)) OPAB
87. a)) That date upon which the principles contained in this
88. b)) That date upon which the boundary between Latvia and
89. (90)) days of notification by the Government of such resolution,