Records, accounts, etc., to be maintained

(1) Every contractor shall, in respect of his contract area, keep at his registered office in Belize, accurate records containing full particulars of the following matters– (a) the drilling, operation, deepening, plugging or abandonment of wells; (b) the strata and subsoil through which wells are drilled; (c) the casing inserted in wells and any alteration to such casing; 31 Petroleum (d) any petroleum, water and other economic minerals encountered; (e) the areas in which any geological or geophysical work has been carried out; (f) accurate geological maps and plans, geophysical records representative geological samples and test results, and all interpretations thereof, and (g) such other matters as may be provided in his contract or as the Minister may reasonably require by notice in writing to the contractor. (2) Every contractor shall keep at his registered office in Belize accurate accounts containing full particulars of the following– (a) the gross quantity of any crude oil and natural gas produced and saved from the contract area; (b) the grades and gravity of any crude oil produced and the composition of any natural gas produced; (c) any quantities of crude oil, natural gas and sulphur, in any form, or any other minerals, gases, liquids or solids disposed of by way of sale or otherwise, the consideration received, the quantity disposed of and the name and address of the person or company to whom any such quantity was disposed; (d) the quantity of crude oil, natural gas and other liquids or gases injected into a formation; 32 Petroleum (e) the quantity of crude oil and natural gas consumed for drilling and other development and (other than quantities reported under paragraph (d) above and consumed in pumping to field storage, refineries in Belize or the point of export; (f) the quantity of crude oil refined by or for the contractor in Belize; (g) the quantity of natural gas treated in Belize by him or on his behalf for the removal of liquids and liquified petroleum gases and the quantity of butane, propane and any other liquids, gases or any other solids obtained; (h) the quantity of natural gas flared; and (i) such further information as may be required by his contract or as the Minister may reasonably require.