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Exhibit 10.5
Crude Oil Transportation Agreement
BOGOTÁ, D.C., THE 31ST OF AUGUST OF 2013
1
Date of Execution
City and Date
August 31, 2013
Contract No.
DC - Crude Oil Transportation Agreement - 018 - 2013
SENDER
PETROLIFERA PETROLEUM COLOMBIA LIMITED
NIT
900.139.306-1
CENIT
Cenit Transporte y Logística de Hidrocarburos S.A.S.
NIT
900.531.210-3
ECONOMIC CONDITIONS
FEE
3,3561 USD / Barrel
CONTRACTED CAPACITY
CRUDE OIL VOLUME (BPDC)
10.000 BPDC
MODALITY
Contracted Capacity Subject to Availability
TERM OF PROVISION OF THE SERVICE
Twelve (12) months
POINTS OF ENTRY AND EXIT
Type of Point
Point Description
Point of Entry
Orito : Main tanks' entry valve
Exit Point
Tumaco: Main tanks' entry valve
2
CONTENTS
CLÁUSULA 1.
DEFINITIONS AND INTERPRETATION.
7
CLÁUSULA 2.
PURPOSE AND SCOPE OF THE AGREEMENT
7
CLÁUSULA 3.
SERVICE.
9
CLÁUSULA 4.
TERM
9
CLÁUSULA 5.
PRICE AND TERMS OF PAYMENT OF THE SERVICE.
10
CLÁUSULA 6.
GUARANTEE.
13
CLÁUSULA 7.
REPRESENTATIONS OF THE PARTIES
15
CLÁUSULA 8.
OBLIGATIONS OF THE PARTIES S
16
CLÁUSULA 9.
RESPONSIBILITIES.
18
SECCIÓN 9.01 - RESPONSIBILITY:
18
SECCIÓN 9.02 - EFFECTS OF A JUSTIFIED EVENT:
19
CLÁUSULA 10.
LICENSES, PERMITS AND AUTHORIZATIONS
20
CLÁUSULA 11.
EXCLUSION OF LABOR RELATIONSHIP
20
CLÁUSULA 12.
INDEMNITIES
20
CLÁUSULA 13.
SANCTION FOR THE FAILURE TO COMPLY WITH NOMINATIONS
ACCEPTED
22
CLÁUSULA 14.
SUSPENSION OF THE SERVICE
23
CLÁUSULA 15.
RIGHT OF RETENTION.
23
CLÁUSULA 16.
CORPORATE GOVERNANCE CODE AND MONEY LAUNDERING POLICIES:
24
CLÁUSULA 17.
TRANSPARENCY COMMITMENT.
24
CLÁUSULA 18.
VALIDITY
25
SECCIÓN 18.01 - TERM:
25
SECCIÓN 18.02 - EARLY TERMINATION BY CENIT:
25
SECCIÓN 18.03 - EARLY TERMINATION BY THE SENDER:
26
SECCIÓN 20.01 - ASSIGNMENT BY THE SENDER:
26
SECCIÓN 20.02 - ASSIGNMENT BY CENIT:
28
CLÁUSULA 21.
CONFIDENTIALITY
28
CLÁUSULA 22.
DEFAULT.
28
CLÁUSULA 23.
NOTIFICATIONS.
28
SECCIÓN 23.01 - REQUIREMENTS:
29
SECCIÓN 23.02 - EFFECTS OF THE NOTIFICATIONS:
29
DC - Crude Oil Transportation Agreement - 018 - 2013
3
SECCIÓN 23.03 - CHANGE OF THE NOTIFICATION ADDRESS:
29
SECCIÓN 23.04 - NOTIFICATION ADDRESS:
29
CLÁUSULA 24.
LAW APPLICABLE
30
CLÁUSULA 25.
RESOLUTION OF CONTROVERSIES
30
CLÁUSULA 26.
INTEGRITY OF THE AGREEMENT AND AMENDMENTS
30
SECCIÓN 26.01 - INTEGRITY OF THE AGREEMENT:
30
SECCIÓN 26.02 - AMENDMENTS:
31
DC - Crude Oil Transportation Agreement - 009 - 2013
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TABLE OF ATTACHMENTS
ATTACHMENT A DEFINITIONS33
ATTACHMENT B CENIT'S TRANSPORTER MANUAL35
ATTACHMENT C ENTRY AND EXIT POINTS94
ATTACHMENT D QUALITY OF THE HYDROCARBON TO BE TRANSPORTED95
ATTACHMENT E CENIT'S COMPLIANCE MANUAL97
ATTACHMENT F MODEL OF THE STAND - BY LETTER OF CREDIT158
ATTACHMENT G CENIT'S CORPORATE GOVERNANCE CODE160
ATTACHMENT H ETHICS CODE187
DC - Crude Oil Transportation Agreement - 018 - 2013
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Contrato de Descargue de Crudo
Attachment G
Cenit's Corporate Governance Code
CRUDE OIL TRANSPORTATION AGREEMENT
This Crude Oil Transportation Agreement (hereinafter, the "Agreement") is
entered into on the thirty first (31st) of August of 2013 (the "Execution
Date"):
1.
CENIT TRANSPORTE Y LOGÍSTICA DE HIDROCARBUROS S.A.S., a Colombian commercial
simplified shares' company, domiciled in the