Common use of Development Area Clause in Contracts

Development Area. The Development Area shall encompass all Deposits to be produced. The Development Area shall be delimited based on data and information obtained during the performance of the Exploration Phase and the Discovery Assessment, according to the Best Practices of the Oil Industry. During the Development Phase, the Consortium Members may request ANP to change the Development Area in order to incorporate other plots from the Contract Area, as long as, cumulatively: one or more Deposits are verified to be extrapolating the Development Area; and the plots intended to be incorporated have not been relinquished by the Contractors in compliance with the provisions of the Agreement. The Development Area to be retained shall be the one included in the Final Discovery Assessment Report approved by ANP. The Consortium Members shall retain, of the Development Area, only the Field area approved by ANP in the scope of the Development Plan. The Contractors shall immediately return to ANP the remaining plots, pursuant to the provisions of paragraphs 3.4 and 3.5. Approval and Implementation of the Development Plan ANP shall have one hundred and eighty (180) days of the date of receipt of the Development Plan to approve it or request the Consortium Members to make the modifications it deems applicable. If ANP does not reply within this term, the Development Plan shall be deemed approved, and ANP’s power/duty to demand revisions whenever necessary is not waived. If ANP requests modifications, the Consortium Members shall submit the modified Development Plan within the term determined by ANP, repeating the procedure provided for in this paragraph 15.9. Disapproval of the Development Plan by ANP, after applicable administrative appeals are ended, shall entail lawful termination of the Agreement regarding the relevant Development Area. Until the Development Plan is approved, the Consortium Members may not carry out any work or conduct any Operations in the Development Area, except upon the prior approval of ANP. The request for early Production shall be substantiated and observe the precepts for preserving oil resources, ensuring operational safety, and preserving the environment. The Consortium Members shall conduct all Operations in the Field area according to the Development Plan approved by ANP. Any Discovery of a New Oil and Gas Reservoir shall be notified to ANP by the Consortium Members, on an exclusive basis, no later than seventy two (72) hours after that. The notice shall be followed by all relevant data and information available. Incorporation of the New Reservoir into the Field shall be preceded by a Discovery Assessment Plan approved by ANP, except when its immediate incorporation is expressly authorized by ANP. The Commercial Discovery shall only be incorporated into the Field Production system after ANP’s approval for the Final Discovery Assessment Report and revision of the Field Development Plan, except when expressly authorized by ANP. Reviews and Amendments The Development Plan may be revised or amended in the following cases: as required by ANP or at the request of the Consortium Members if it fails to comply with the Applicable Laws and Regulations or the Best Practices of the Oil Industry; at the request of the Consortium Members, in case of evidenced changes in the technical or economic conditions assumed in its preparation. The provisions included in paragraphs 15.9 and 15.10 shall apply to the revisions of the Development Plan as appropriate, including regarding the disapproval of the revisions by ANP.

Development Area. The Development Area shall encompass all Deposits to be produced. The Development Area shall be delimited based on data and information obtained during the performance of the Exploration Phase and the Discovery Assessment, according to the Applicable Laws and Regulations and the Best Practices of the Oil Industry. During the Development Phase, the Consortium Members may request ANP to change the Development Area in order to incorporate other plots from the Contract Area, as long as, cumulatively: one or more Deposits are verified to be extrapolating the Development Area; and the plots intended to be incorporated have not been relinquished by the Contractors Contracted Parties in compliance with the provisions of the Agreement. The Development Area to be retained shall be the one that included in the Final Discovery Assessment Report approved by ANP. The Consortium Members shall only retain, of from the Development Area, only the Field area Area approved by ANP in within the scope of the Development Plan. The Contractors Contracted Parties shall immediately return to ANP the remaining plots, plots pursuant to the provisions of in paragraphs 3.4 and 3.5. Approval and Implementation of the Development Plan ANP shall have one hundred and eighty (180) days of the date of receipt of the Development Plan to approve it or request the Consortium Members to make the modifications it deems applicable. If ANP does not reply within this term, the Development Plan shall be deemed approved, and ANP’s power/duty to demand revisions whenever necessary is not waived. If ANP requests modifications, the Consortium Members shall submit the modified Development Plan within the term determined by ANP, repeating the procedure provided for in this paragraph 15.9. Disapproval of the Development Plan by ANP, after applicable administrative appeals are ended, shall entail lawful termination of the Agreement regarding the relevant Development Area. Until the Development Plan is approved, any works, operations, or early production shall depend on prior authorization by ANP, pursuant to the Consortium Members may not carry out any work or conduct any Operations in the Development Area, except upon the prior approval of ANPApplicable Laws and Regulations. The request for early Production shall be substantiated and observe in an application observing the precepts for preserving oil resources, ensuring operational safety, and preserving the environment. The Consortium Members shall conduct all Operations in the Field area according pursuant to the Development Plan approved by ANP. Any Discovery of a New Oil and Gas Reservoir shall be notified to ANP by the Consortium Members, on an exclusive basis, no later than seventy two (72) hours after that. The notice shall be followed by sent along with all relevant data and information available. Incorporation of the New Reservoir into the Field shall be preceded by a Discovery Assessment Plan approved by ANP, except when its immediate incorporation is expressly authorized by ANP. The Commercial Discovery shall only be incorporated into the Field Production system after ANP’s approval for of the Final Discovery Assessment Report and of the revision of the Field Development Plan, except when expressly authorized by ANP. Reviews and Amendments The Development Plan may be revised or amended in the following cases: as required by ANP or at the request of the Consortium Members if it the Plan fails to comply with the Applicable Laws and Regulations or the Best Practices of the Oil Industry; at the request of the Consortium Members, in case of evidenced changes in the technical or economic conditions assumed in its preparation. The provisions included in paragraphs 15.9 and 15.10 shall apply to the revisions of the Development Plan as appropriate, including regarding the disapproval of the revisions by ANP.

Development Area. The Development Area shall encompass all Deposits to be produced. The Development Area shall must be delimited based on data and information obtained during the performance execution of the Exploration Phase and the Discovery Assessment, according to the Best Practices of the Oil Industry. During the Development Phase, the Consortium Members may request ANP to change the Development Area in order to incorporate other plots from the Contract Area, as long as, cumulatively: one or more Deposits are verified to be extrapolating the Development Area; and the plots intended to be incorporated have not been relinquished by the Contractors Concessionaire in compliance with the provisions of the Agreement. The Development Area to be retained shall be the one included in the Final Discovery Assessment Report approved by ANP. The Consortium Members shall retain, of the Development Area, only the Field area approved by ANP in the scope of the Development Plan. The Contractors shall Consortium Members must immediately return to ANP relinquish the remaining plotsplots to ANP, pursuant to the provisions of in paragraphs 3.4 3.5 and 3.53.6. Approval and Implementation of the Development Plan ANP shall have one hundred and eighty (180) days of the date of receipt of the Development Plan to approve it or request the Consortium Members to make the modifications it deems applicable. If ANP does not reply within this term, the Development Plan shall be deemed approved, and ANP’s power/duty to demand revisions whenever necessary is not waived. If ANP requests modifications, the Consortium Members shall submit the modified Development Plan within the term determined by ANP, thus repeating the procedure provided for in this paragraph 15.915.10. Disapproval of the Development Plan by ANP, after applicable administrative appeals are endedtaking into account the provisions of this Section, shall entail implies the lawful termination of the Agreement regarding with respect to the relevant Development Area. Until the Development Plan is approved, the Consortium Members may not carry out any work or conduct any Operations in the Development AreaField area, except upon the prior approval of ANP. The request for early Production shall be substantiated and observe the precepts for preserving oil resources, ensuring operational safety, and preserving the environment. The Consortium Members shall conduct all Operations in the Field area according to the Development Plan approved by ANPPlan. Any Discovery of a New Oil and Gas Reservoir shall be notified to ANP by the Consortium Members, on an exclusive basis, no later than seventy two (72) hours after that. The notice shall be followed by all relevant data and information available. Incorporation of the New Reservoir into the Field shall be preceded by a Discovery Assessment Plan approved by ANP, except when its immediate incorporation is expressly authorized by ANP. The Commercial Discovery shall only be incorporated into the Field Production system after ANP’s approval for the Final Discovery Assessment Report and revision of the Field Development Plan, except when expressly authorized by ANP. Reviews Revisions and Amendments The Development Plan may shall be revised or amended in the following cases: as required by ANP or at the request of the Consortium Members if if, at any time, it fails to comply with the Applicable Laws and Regulations or the Best Practices of the Oil Industry; at the request of the Consortium Members, in case of evidenced changes in the technical or economic conditions assumed in its preparation. The provisions included in paragraphs 15.9 and paragraph 15.10 shall apply to the revisions of the Development Plan as appropriate, including regarding the disapproval of the revisions by ANP.

Development Area. The Development Area shall encompass all Deposits to be produced. The Development Area shall be delimited based on data and information obtained during the performance of the Exploration Phase and the Discovery Assessment, according to the Best Practices of the Oil Industry. During the Development Phase, the Consortium Members may request ANP to change the Development Area in order to incorporate other plots from the Contract Area, as long as, cumulatively: one or more Deposits are verified to be extrapolating the Development Area; and the plots intended to be incorporated have not been relinquished by the Contractors in compliance with the provisions of the Agreement. The Development Area to be retained shall be the one included in the Final Discovery Assessment Report approved by ANP. The Consortium Members shall retain, of only retain the Development Area, only the Field area Area approved by ANP in within the scope of the Development Plan. The Contractors Contracted Parties shall immediately return to ANP the remaining plotsparts, pursuant to the provisions of in paragraphs 3.4 and 3.5. Approval and Implementation of the Development Plan ANP shall have one hundred and eighty (180) days of the date of receipt of the Development Plan to approve it or request the Consortium Members to make the modifications it deems applicable. If ANP does not reply within this term, the Development Plan shall be deemed approved, and ANP’s power/duty to demand revisions whenever necessary is not waived. If ANP requests modifications, the Consortium Members shall submit the modified Development Plan within the term determined by ANP, repeating the procedure provided for in this paragraph 15.911.5. Disapproval of the Development Plan by ANP, after applicable administrative appeals are ended, shall entail lawful termination of the Agreement regarding the relevant Development Area. Until the Development Plan is approved, any works, Operations, or early Production shall depend on prior authorization by ANP, pursuant to the Consortium Members may not carry out any work or conduct any Operations in the Development Area, except upon the prior approval of ANPApplicable Laws and Regulations. The request for early Production shall be substantiated and observe in an application observing the precepts for preserving oil resources, ensuring operational safety, and preserving the environment. The Consortium Members shall conduct will carry out all Operations in the Field area according pursuant to the Development Plan approved by ANP. Any Discovery of a New Oil and Gas Reservoir shall be notified to ANP by the Consortium Members, on an exclusive basis, no later than seventy two (72) hours after that. The notice shall be followed by sent along with all relevant data and information available. Incorporation of the New Reservoir into the Field shall be preceded by a Discovery Assessment Plan approved by ANP, except when its immediate incorporation is expressly authorized by ANP. The Commercial Discovery shall only be incorporated into the Field Production system after ANP’s approval for of the Final Discovery Assessment Report and of the revision of the Field Development Plan, except when expressly authorized by ANP. Reviews and Amendments The Development Plan may be revised or amended in the following cases: as required by ANP or at the request of the Consortium Members if it the Plan fails to comply with the Applicable Laws and Regulations or the Best Practices of the Oil Industry; at the request of the Consortium Members, in case of evidenced changes in the technical or economic conditions assumed in its preparation. The provisions included in paragraphs 15.9 and 15.10 11.5 to 11.7 shall apply to the revisions reviews of the Development Plan as appropriate, including regarding the disapproval of the revisions reviews by ANP.

Development Area. The Development Area Areas shall encompass cover all Deposits to be produced. The Development Area shall be delimited based on the data and information obtained during the performance of the Exploration Phase and the Discovery Assessment, according to in accordance with the Applicable Legislation and with the Best Practices of the Oil Industry. During the Development Phase, the Consortium Members may request ANP to change modify the Development Area in order to incorporate other plots from portions of the Contract Agreement Area, as long asprovided that, cumulatively: it is found that one or more Deposits are verified to be extrapolating go beyond the Development Area; and the plots installments intended to be incorporated have not been relinquished returned by the Contractors in compliance with the provisions of the Agreement. The Development Area to be retained shall will be the one included that contained in the Final Discovery Report on the Assessment Report of Oil or Natural Gas Discoveries approved by ANP. The Consortium Members shall retain, of retain from the Development Area, Area only the Field area Area approved by ANP in the scope of under the Development Plan. The Contractors shall immediately return to ANP the remaining plotsinstallments, pursuant subject to the provisions of paragraphs 3.4 and 3.5. Approval and Implementation of the Development Plan ANP shall have a period of 180 (one hundred and eighty (180eighty) days of from the date of receipt of the Development Plan to approve it or request the Consortium Members to make the such modifications as it deems applicableappropriate. If ANP does not reply give its opinion within this termperiod, the Development Plan shall will be deemed considered approved, and ANP’s power/the power and duty of ANP to demand require revisions whenever necessary is not waivednecessary. If ANP requests modifications, the Consortium Members shall submit the modified Development Plan within the term period determined by ANP, repeating the procedure provided for in this paragraph 15.915.7. Disapproval The non-approval of the Development Plan by ANP, after applicable the exhaustion of the appropriate administrative appeals are endedresources, shall entail lawful will imply the termination of the Agreement regarding in full in relation to the relevant respective Development Area. Until the Development Plan is approved, the Consortium Members may not carry out any work works, Operations, or conduct any Operations in the Development Areaanticipation of Production will depend on prior authorization from ANP, except upon the prior approval according to Applicable Law. Possible anticipation of ANP. The request for early Production production shall be substantiated and observe requested in a manner based on application in which the precepts for preserving of conservation of oil resourcesresources should be observed, ensuring the operational safety, safety and preserving the environmentenvironmental preservation. The Consortium Members Operations shall conduct all Operations be conducted in the Field area according to accordance with the Development Plan approved by ANP. Any Discovery of a New Oil and Gas Reservoir shall be notified to ANP by the Consortium Members, on an exclusive basis, no later than seventy two (72) hours after that. The notice shall be followed by all relevant data and information available. Incorporation of the New Reservoir into the Field shall be preceded by a Discovery Assessment Plan approved by ANP, except when its immediate incorporation is expressly authorized by ANP. The Commercial Discovery shall only be incorporated into the Field Production system after ANP’s approval for the Final Discovery Assessment Report and revision of the Field Development Plan, except when expressly authorized by ANP. Reviews and Amendments The Development Plan may be revised or amended in the following cases: as required by ANP or at the request of the Consortium Members if it fails to comply with the Applicable Laws and Regulations or the Best Practices of the Oil Industry; at the request of the Consortium Members, in case of evidenced changes in the technical or economic conditions assumed in its preparation. The provisions included in paragraphs 15.9 and 15.10 shall apply to the revisions of the Development Plan as appropriate, including regarding the disapproval of the revisions by ANP.

Development Area. The Development Area shall encompass all Deposits to be produced. The Development Area shall be delimited based on data and information obtained during the performance of the Exploration Phase and the Discovery Assessment, according to the Applicable Laws and the Best Practices of the Oil Industry. During the Development Phase, the Consortium Members Concessionaire may request ANP to change the Development Area in order to incorporate other plots from the Contract AreaConcession Area in it, as long as, cumulatively: one or more Deposits are verified to be extrapolating the Development Area; and the plots intended to be incorporated have not been relinquished by the Contractors Concessionaire in compliance with the provisions of the Agreement. The Development Area to be retained shall be the one included in the Final Discovery Discoveries of Oil or Natural Gas Assessment Report approved by ANP. The Consortium Members Concessionaire shall retain, of the Development Area, only the Field area Area approved by ANP in the scope of the Development Plan. The Contractors Concessionaire shall immediately return to ANP relinquish the remaining plotsplots to ANP, pursuant to the provisions of in paragraphs 3.4 3.5 and 3.53.6. Approval and Implementation of the Development Plan ANP shall have one hundred and eighty (180) days of the date of receipt of the Development Plan to approve it or request the Consortium Members Concessionaire to make the modifications it deems applicable. If ANP does not reply within this term, the Development Plan shall be deemed approved, and ANP’s power/duty to demand revisions whenever necessary is not waived. If ANP requests modifications, the Consortium Members Concessionaire shall submit the modified Development Plan them within the term determined by ANP, repeating the procedure provided for in this paragraph 15.910.7. Disapproval of Failure by ANP to approve the Development Plan by ANP, after applicable administrative appeals are ended, shall entail lawful termination of the Agreement regarding the relevant Development Area, after depletion of the applicable administrative appeals. Until the Development Plan is approved, the Consortium Members Concessionaire may not carry out any work or conduct any perform Operations in the Development Area, except upon the prior approval of ANP. The request for early Production shall be substantiated and observe the precepts for preserving oil resources, ensuring operational safety, and preserving the environment. The Consortium Members shall conduct all Operations in the Field area will be conducted according to the Development Plan approved by ANP. Any Discovery of a New Oil and Gas Reservoir shall be notified to ANP by the Consortium Members, on an exclusive basis, no later than seventy two (72) hours after that. The notice shall be followed by all relevant data and information available. Incorporation of the New Reservoir into the Field shall be preceded by a Discovery Assessment Plan approved by ANP, except when its immediate incorporation is expressly authorized by ANP. The Commercial Discovery shall only be incorporated into the Field Production system after ANP’s approval for the Final Discovery Assessment Report and revision of the Field Development Plan, except when expressly authorized by ANP. Reviews and Amendments The Development Plan may be revised or amended in the following cases: as required by ANP or at the request of the Consortium Members if it fails to comply with the Applicable Laws and Regulations or the Best Practices of the Oil Industry; at the request of the Consortium Members, in case of evidenced changes in the technical or economic conditions assumed in its preparation. The provisions included in paragraphs 15.9 and 15.10 shall apply to the revisions of the Development Plan as appropriate, including regarding the disapproval of the revisions by ANP.