DEVELOPMENT AND PRODUCTION WORK PROGRAMMES AND BUDGETS. 15.1 Commencing in the Calendar Year in which the Minister approves the first Development Plan for the Contract Area, Contractor shall prepare and submit to the Minister for approval, in such form as the Minister may direct, an annual Development and Production Work Programme and budget detailing by Calendar Quarter all aspects of the proposed Petroleum Operations to be carried out in relation to each Production Area and related facilities and infrastructure, the estimated cost thereof, duration and location of each operation, and, where applicable, the estimated monthly rate of Production for each Production Area. Each proposed Work Programme and budget shall also include a forecast of yearly Development and Production activity and expenditure for the ensuing period of four (4) Calendar Years or the period up to the end of the term of the Contract, whichever is shorter.
