Commitment in Second Period. In each Contract Year mentioned below, and unless the Contractor has relinquished all of the Contract Area (not being a Development Area, Oil Retention Area or a Gas Retention Area) before the start of the fourth (4th) Contract Year, the Contractor shall carry out an Exploration Work Programme and Budget of not less than the amount of work specified for that Contract Year: Contract Year Data Evaluation Surveys Xxxxx 5 Nil Nil 1 well
Commitment in Second Period. In each Contract Year mentioned below, and unless the Contractor has relinquished all of the Contract Area (not being a Development Area, Oil Retention Area or a Gas Retention Area) before the start of the fourth (4th) Contract Year, the Contractor shall carry out an Exploration Work Programme and Budget of not less than the amount of work specified for that Contract Year: Contract Year Data Evaluation Surveys Xxxxx 4 Preparation of well prognosis. Confirmation of drilling location for 1 exploration well. Xxx Xxx 5 Nil Nil 1 exploration well to a depth regarded as sufficient by the TSDA to fully investigate all exploration prospects of the chosen location.
Commitment in Second Period. In Contract Years 4 and 5 mentioned below, and unless the Contractor has relinquished all of the Contract Area (not being a Development Area, Oil Retention Area or a Gas Retention Area) before the start of the fourth (4th) Contract Year, the Contractor shall carry out an Exploration Work Programme and Budget of not less than the amount of work specified for these Contract Years below: Contract Years Data Evaluation Seismic Surveys Xxxxx 4-5 Interpretation of new and existing seismic data. Systematic review of the hydrocarbon potential of the Contract Area through integrated geological, geophysical, structural, geochemical and other studies. Acquisition and processing of a minimum of 100 square kilometres of new 3D full-fold high quality seismic data. 1 exploration well to a depth regarded as sufficient by the TSDA to fully investigate all exploration prospects of the chosen location.
Commitment in Second Period. In each Contract Year mentioned below, and unless the Contractor has relinquished all of the Contract Area (not being a Development Area or a Gas Retention Area) before the start of the fourth
