Annual Work and Budget Program Sample Clauses

Annual Work and Budget Program document specifying the set of activities to be developed by the Consortium Members, including details on the investments required to develop such activities.
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Annual Work and Budget Program program which specifies the set of activities to be performed by the Concessionaire during a calendar year, including the detailing of investments necessary to carry out such activities, and it must be submitted by the Concessionaire in the form of Applicable Legislation.
Sample 1Sample 2See All (5)
Annual Work and Budget Program of the Exploration Phase 17 Extension of the Exploration Phase and Suspension of the Agreement 18 Options to End the Exploration Phase 19 Concessionaire’s Options after Completion of the Minimum Exploration Program 19 Relinquishment of the Concession Area at the End of the Exploration Xxxxx 00 0 Section Six – Compensatory Penalty for Default of the Minimum Exploration Program 20 Compensatory Penalty for Default of the Minimum Exploration Program and Financial Guarantee 20 Types of Financial Guarantees 20 Adjustment of the Financial Guarantees 21 Effectiveness of Financial Guarantees 21 Reduction in the Secured Amount 21 Return of the Financial Guarantees 22 Enforcement of the Compensatory Penalty 22 7 Section Seven – Discovery and Assessment 23 Notification of Discovery 23 Assessment, Discovery Assessment Plan, and Final Discovery Assessment Report 23 Assessment of New Reservoir 23 Discovery Assessment through Extended Well Test 24 8 Section Eight – Declaration of Commercial Feasibility 24 Declaration of Commercial Feasibility 24 Postponement of the Declaration of Commercial Feasibility 24 CHAPTER III – DEVELOPMENT AND PRODUCTION 26 9 Section Nine – Production Xxxxx 00 Start and Duration 26 Extension at the Concessionaire’s request 26 Extension by determination of ANP 26 Consequence of the Extension 26 Termination 27 Relinquishment of the Field 27 10 Section Ten – Development Plan 28 Deadlines 28 Development Area 28 Approval and Implementation of the Development Plan 29 Reviews and Amendments 30 Buildings, Facilities, and Equipment 30 11 Section Eleven – Production Start Date and Annual Production Programs 30 Start of Production 30 Annual Production Program 31 Approval of the Annual Production Program 31 Revision 31 Production Volume Variance 32 Temporary Interruption of Production 32 Annual Work and Budget Program of the Production Xxxxx 00 00 Section Twelve – Measurement, Monthly Reports, and Production Availability 32 Measurement 32 Monthly Production Reports 33 Production Availability 33 Free Use 33 Supply to the Domestic Market 33 Consumption in the Operations 34 Results of Test 34 Oil and Gas Losses and Burning of Natural Gas 34 13 Section Thirteen – Individualization of Production 35 Production Individualization Agreement 35 CHAPTER IV – EXECUTION OF OPERATIONS 36 14 Section Fourteen – Execution by the Concessionaire 36 Concessionaire’s Exclusivity 36 Indication of the Operator by the Concessionaire 36 Diligence to Conduct Operations 37 Licenses, Au...
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Annual Work and Budget Program. Correspondence between the Content and Other Plans and Programs
Sample 1Sample 2
Annual Work and Budget Program of the Production Phase 97 Notice of Discovery 97 Oil or Natural Gas Discovery Assessment Plan 97 Development 98 Annual Production Program 98 Decommissioning of Facilities Program 98 Contracting of goods and services 99 Expenditure Authorization 102 Expenses Above Expected 103 Employees of Non-Operating Contractors 103 Limitation of Applicability 103 Procedure to propose Operations with Exclusive Risks 104 Costs of the Operation with Exclusive Risk 104 Other Conditions of Operations with Exclusive Risks 105 Appeal Procedure 105 ANNEX X - OIL COST RECOVERY AND OIL SURPLUS PERCENTAGES 107 PRODUCTION SHARING AGRREMENT FOR OIL AND NATURAL GAS EXPLORATION AND PRODUCTION entered into by and between: as the Contracting Party The FEDERAL GOVERNMENT, in the use of the competence conferred on it by art. 177, §1, of the Constitution of the Federative Republic of Brazil, through the MINISTRY OF MINES and ENERGY – MME, pursuant to Law No. 12.351, of December 22, 2010, registered in the National Register of Legal Entities (CNPJ/MF) under No. 37.115.383/0001-53, headquartered at Esplanada dos Ministérios, Block “U”, Brasília, DF, Zip Code 70065-900, herein represented by the Minister of State of Mines and Energy [insert name]; as Regulator and Supervisor, The NATIONAL AGENCY OF PETROLEUM, NATURAL GAS and BIOFUELS - ANP, a special agency created by Law No. 9.478, of August 6, 1997, a member of the Indirect Federal Administration, linked to the Ministry of Mines and Energy, headquartered at SGAN Block 603, Module I, 3rd floor, in the city of Brasília, DF, and Central Office at 00 Xxx Xxxxxx Xxxxxx, Centro, Rio de Janeiro, RJ, herein represented by its Director General, [insert name]; as Manager,
Sample 1
Annual Work and Budget Program. 8.5. The same provisions as the Annual Production Program apply to the Annual Work and Budget Program with regard to delivery, approval and review procedures.
Sample 1
Annual Work and Budget Program. The Borrower shall, through the MEH, and shall cause the CDC in connection with the Project activities under its responsibility, to: (a), not later than November 30 (or such later date as agreed by the Bank) in each calendar year during Project implementation, prepare and furnish to the Bank, a list of Project activities to be implemented in the calendar year following the date of presentation of said annual plan, including: (i) a detailed timetable for the sequencing and implementation of said activities; and (ii) the types of expenditures required for such activities, and a financing plan and a budget (“Annual Work and Budget Program”), all acceptable to the Bank; and (b) thereafter implement each such Annual Work and Budget Program in accordance with its terms and in a manner acceptable to the Bank.
Sample 1
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Annual Work and Budget Program. The same provisions as the Annual Production Program apply to the Annual Work and Budget Program with regard to delivery, approval and review procedures. The first Annual Work and Budget Program shall cover the remainder of the current year and be presented by the Concessionaire within 60 (sixty) days from the date of signature of this Agreement.
Sample 1
Annual Work and Budget Program document specifying the set of activities to be developed by the Concessionaire, including details on the investments for the next five years required to develop such activities.
Sample 1

Related to Annual Work and Budget Program

  • Annual Work Plan and Budget (a) The Recipient shall, through NBS, prepare and furnish to Association, not later than April 30 of each Fiscal Year during the implementation of the Project, a proposed annual work plan, procurement plan, training plan, and budget containing all activities proposed to be carried out under the Project in the following Fiscal Year and a budget and financing plan therefor.

  • Annual Work Plans (a) The Recipient shall prepare in accordance with guidelines acceptable to the Association and furnish to the Association not later than March 31 in each calendar year, a proposed annual work plan and budget for the Project for the following fiscal year of the Recipient, of such scope and in such detail as the Association shall reasonably request.

  • Development Plan document specifying the work program, schedule, and relevant investments required for the Development and the Production of a Discovery or set of Discoveries of Oil and Gas in the Concession Area, including its abandonment.

  • Work Plan Coordinate a work plan including a list of the proposed meetings and coordination activities, and related tasks to be performed, a schedule and an estimate. The work plan must satisfy the requirements of the project and must be approved by the State prior to commencing work.

  • Development Plans 4.3.1 For each Licensed Indication and corresponding Licensed Product in the Field, Licensee will prepare and deliver to Licensor a development plan and budget (each a “Development Plan”). The initial Development Plans for each Licensed Indication will be delivered within […***…] after the Grant Date for such Licensed Indication.

  • Design Development Phase Services 3.3.1 Based on the Owner’s approval of the Schematic Design Documents, and on the Owner’s authorization of any adjustments in the Project requirements and the budget for the Cost of the Work, the Architect shall prepare Design Development Documents for the Owner’s approval. The Design Development Documents shall illustrate and describe the development of the approved Schematic Design Documents and shall consist of drawings and other documents including plans, sections, elevations, typical construction details, and diagrammatic layouts of building systems to fix and describe the size and character of the Project as to architectural, structural, mechanical and electrical systems, and other appropriate elements. The Design Development Documents shall also include outline specifications that identify major materials and systems and establish, in general, their quality levels.

  • Development Phase contractual phase initiated with the approval of ANP for the Development Plan and which is extended during the Production Phase while investments in xxxxx, equipment, and facilities for the Production of Oil and Gas according to the Best Practices of the Oil Industry are required.

  • Project Plans The Contractor: must carry out the Contractor's Activities in accordance with, and otherwise implement, the Project Plans; and for the purposes of subparagraph (i), must: prepare Project Plans based, where applicable, on the draft Project Plans lodged by the Contractor in its tender for the Contractor's Activities, and otherwise in accordance with the requirements of the Contract and submit them to the Contract Administrator so as to ensure that there is no delay or disruption to the Contractor's Activities and in any event no later than the number of days specified in the Contract Particulars after the Award Date for each Project Plan; not commence any of the Contractor's Activities to which any Project Plan applies, unless the Contract Administrator has had the number of days specified in the Contract Particulars for each Project Plan to review the Project Plan and has not rejected the Project Plan; if any Project Plan is rejected, submit an amended Project Plan to the Contract Administrator; in any event, finalise each Project Plan so as to ensure that there is no delay or disruption to the Contractor's Activities and in any event in accordance with the requirements of the Contract to the satisfaction of the Contract Administrator; after each Project Plan has been finalised: regularly review, update and amend each Project Plan in accordance with the process set out in each Project Plan (and otherwise at least on each anniversary of the Award Date); update or amend a Project Plan on request of the Contract Administrator; and continue to correct any defects in or omissions from a Project Plan (whether identified by the Contract Administrator or the Contractor), and submit an updated or amended Project Plan to the Contract Administrator, after which: the Contractor must continue to comply with the requirements of the then current Project Plan until the process in subparagraph (ii) has been completed in respect of the updated or amended Project Plan; and subsubparagraphs B - E will apply (to the extent applicable); and document and maintain detailed records of all: reviews, updates, amendments and submissions of each Project Plan; audits or other monitoring of each Project Plan; and training and awareness programs and communications provided to Contractor and subcontractor personnel in respect of each Project Plan (including each updated or amended Project Plan). The Contractor will not be relieved from compliance with any of its obligations under the Contract or otherwise at law or in equity as a result of: the implementation of, and compliance with, the requirements of any Project Plan; any direction by the Contract Administrator concerning a Project Plan or the Contractor's compliance or non-compliance with a Project Plan; any audit or other monitoring by the Contract Administrator or anyone else acting on behalf of the Commonwealth of the Contractor's compliance with a Project Plan; or any failure by the Contract Administrator, or anyone else acting on behalf of the Commonwealth, to detect any defect in or omission from a Project Plan including where any such failure arises from any negligence on the part of the Contract Administrator or other person.

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