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Assessment of Commerciality Sample Clauses

Assessment of Commerciality. 9.2.1 Contractor shall commence the Appraisal work program, which may include conducting studies, within thirty (30) Days from the date of its final submission to the Operations Committee or otherwise the Discovery Area shall be relinquished, except as set out in Sub-Article 3.2. 9.2.2 Contractor shall assess the commerciality based on the production rates designed to maximize the ultimate recovery of Crude Oil (maximum efficient rate) from the Commercial Field in accordance with good and prudent petroleum industry practices and field conservation principles, and in accordance with the Appraisal work program which may be submitted to the Operations Committee for modification, from time to time in accordance with Sub Article 9.1.4 to incorporate new information, interpretations, data and technology. 9.2.3 Contractor shall have a period of two (2) years from the date of final submission of the Appraisal work program to complete the Appraisal work program. If all agreed Appraisal activities under the Appraisal work program have been completed within this time and the results of those activities indicate that further Appraisal is necessary to optimize Development, then Contractor may request that Staatsolie approve a six (6) month extension on the basis of an agreed work program. Approval of such request shall not be unreasonably withheld.
Assessment of Commerciality. 10.2.1 Contractor shall commence the Appraisal work program, which may include conducting studies, within thirty (30) Days from the date of the final submission of the Appraisal work program pursuant to Sub-Article 10.1.4, failing which the Discovery Area shall be deemed to have been relinquished, except as set out in Sub-Article 3.3. 10.2.2 Contractor shall have a maximum period of two (2) years from the date of final submission of, in accordance with Sub-Article 10.2.1, the Appraisal work program to complete the Appraisal work program.