Additional Exploration Activities Clause Samples
The "Additional Exploration Activities" clause defines the rights and procedures for conducting exploration activities beyond those initially agreed upon in a contract. Typically, this clause outlines the process for proposing, approving, and carrying out extra exploration work, such as drilling new wells or conducting further geological surveys, and may specify how costs and responsibilities are shared among the parties. Its core function is to provide a clear framework for expanding exploration efforts while managing expectations and obligations, thereby reducing disputes and ensuring that all parties are aligned when new opportunities or needs arise.
Additional Exploration Activities. Once the Appraisal Periods are over, after the reduction and return of the area referred to in subparagraph (e) of Article 7.1 and in the event that the Contractor determines the possibility that Hydrocarbons exist on a subsoil structure or stratigraphic trap located in the remaining Contract Area, the Contractor shall give notice to the CNH and may present a new Exploration Plan for the approval of the CNH for conduction of the Petroleum Activities deemed convenient in such subsoil structure or stratigraphic trap. The aforementioned, as provided by this Contract and in the Applicable Laws.
Additional Exploration Activities. Once the Exploration Period ends, after the reduction and return of the area referred to in subparagraphs (a), (b) and (c) of Article 7.1 and in the event the Contractor determines the possibility of existence of Hydrocarbons on a subsoil structure or stratigraphic trap located in the Contract Area in a different depth on any Development Area, the Contractor shall send notice to CNH and may submit a new Exploration Plan in order to be approved by CNH with the purpose of carrying out the Petroleum Activities deemed convenient in such subsoil structure or stratigraphic trap including the corresponding Work Program and Budget. The terms and deadlines for the approval of CNH of the Exploration Plan, Work Program and Budget shall be subject to the provisions in Articles 4, 10 and 11. The aforementioned without prejudice of the reduction and return of the area referred in subparagraph (d) of Article 7.1.