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 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 Concessionaire may request ANP to change the Development Area in order to incorporate other plots from the Concession 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 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.

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 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 Concessionaire may request ANP to change the Development Area in order to incorporate other plots from the Concession Area in itArea, as long as, cumulatively: it is verified that one or more Deposits are verified to be extrapolating extrapole the Development Area; and the plots intended to be incorporated have not been relinquished by the Concessionaire 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.

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 Exploration Phase and the Discovery Assessment, according to the Applicable Laws and Regulations and the Best Practices of the Oil Industry. During the Development PhaseStage , the Concessionaire may request ANP to change the Development Area in order to incorporate other plots from the Concession 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 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.