Common use of Development Plan Clause in Contracts

Development Plan. Within two (2) Years following the declaration of a Commercial Discovery, the Contractor shall submit to the CNH for its approval the corresponding Development Plan. The Development Plan shall: (i) cover the entire Development Area; (ii) include at a minimum the information required by Annex 8; (iii) foresee the use of adequate methods and processes to obtain the maximum ultimate recovery factor for the Reserves, complying with Industry Best Practices, as well as (iv) include the corresponding program for the efficient use of Natural Gas and the mechanism for the measurement of the production of Hydrocarbons. The CNH will grant or deny its approval of the proposed Development Plan in a period not to exceed one hundred twenty (120) Days following its receipt of the necessary information pursuant to the terms of the Applicable Laws. In the event the CNH does not issue a decision during the provided term, it will be deemed to have made a favorable decision.

Development Plan. Within two (2) Years the Year following the declaration of a Commercial Discovery, the Contractor shall submit to the CNH for its approval the corresponding Development Plan. The Development Plan shall: (i) shall cover the entire Development Area; (ii) include , including at a minimum the information required by Annex 8; (iii) foresee 8 and the use of adequate methods and processes to obtain the maximum ultimate recovery factor for the Reserves, complying in compliance with Industry Best Practices, as well as (iv) include the corresponding program and shall be designed to allow for the efficient optimization of the economic benefit of the Field, avoiding excessive decline of production rates or pressure, has the correspondent program of use of Natural Gas and the mechanism for the measurement of the Hydrocarbons production of Hydrocarbonsmechanisms. The CNH will grant or deny its approval of for the proposed Development Plan in a period not to exceed exceeding one hundred twenty (120) Days following its the receipt of the necessary information pursuant to the terms of the Applicable Laws. In the event the CNH does not issue a decision during the provided termperiod, it will be deemed to have made a in favorable decision.

Development Plan. Within two (2) Years the Year following the declaration of a Commercial Discovery, the Contractor shall submit to the CNH for its approval the corresponding Development Plan. The Development Plan shall: (i) shall cover the entire Development Area; (ii) include , including at a minimum the information required by Annex 8; (iii) foresee 8 and the use of adequate methods and processes to obtain the maximum ultimate recovery factor for the Reserves, complying in compliance with Industry Best Practices, as well as (iv) include the corresponding program and shall be designed to allow for the efficient optimization of the economic benefit of the Field, avoiding excessive decline of production rates or pressure, has the correspondent program of use of Natural Gas and the mechanism for the measurement of the pf Hydrocarbons production of Hydrocarbonsmechanisms. The CNH will grant or deny its approval of for the proposed Development Plan in a period not to exceed exceeding one hundred twenty (120) Days following its the receipt of the necessary information pursuant to the terms of the Applicable Laws. In the event the CNH does not issue a decision during the provided termperiod, it will be deemed to have made a in favorable decision.

Development Plan. Within two (2) Years following the declaration of a Commercial Discovery, the Contractor shall submit to the CNH for its approval the corresponding Development Plan. The Development Plan shall: (i) cover the entire Development Area; (ii) include at a minimum the information required by Annex 8; (iii) foresee the use of adequate methods and processes to obtain the maximum ultimate recovery factor for the Reserves, complying with Industry Best Practices, as well as (iv) include the corresponding program for the efficient use of Natural Gas and the mechanism for the measurement of the production of Hydrocarbons. The CNH will grant or deny its approval of the proposed Development Plan in a period not to exceed one hundred twenty (120) Days following its receipt of the necessary information pursuant to the terms of the Applicable Laws. In the event that the CNH does not issue a decision during the provided term, it will be deemed to have made a favorable decision.

Development Plan. Within two (2) Years the Year following the declaration of a Commercial Discovery, the Contractor shall submit to the CNH for its approval the corresponding Development Plan. The Development Plan shall: (i) shall cover the entire Development Area; (ii) , shall include at a minimum least the information required by Annex 8; (iii) foresee 8 and the use of adequate methods and processes to obtain the maximum ultimate recovery factor for the Reserves, complying in compliance with Industry Best Practices, as well as (iv) include and shall be designed in such a manner to allow for the optimization of the economic benefit of the Field, avoiding excessive decline of production rates or pressure, has the corresponding unitization program for the efficient use of Natural Gas and the mechanism for the measurement of the Hydrocarbons production of Hydrocarbonsmechanisms. The CNH will grant or deny its approval of for the proposed Development Plan in a period not to exceed exceeding one hundred twenty (120) Days following its the receipt of the necessary information pursuant to the terms of the Applicable Laws. In the event the CNH does not issue a decision during the provided termperiod, it will be deemed to have made a in favorable decision.

Development Plan. Within two (2) Years following the declaration of a Commercial Discovery, the Contractor shall submit to the CNH for its approval the corresponding Development Plan. The Development Plan shall: (i) cover the entire Development Area; (ii) include at a minimum the information required by Annex 8; (iii) foresee the use of adequate methods and processes to obtain the maximum ultimate recovery factor for the Reserves, complying with Industry Best Practices, as well as (iv) include the corresponding program for the efficient use of Natural Gas and the mechanism for the measurement of the production of Hydrocarbons. The CNH will grant or deny its approval of the proposed Development Plan in a period not to exceed one hundred twenty (120) Days following its receipt of the necessary information pursuant to the terms of the Applicable Laws. In the event the CNH does not issue a decision during the provided termperiod provided, it will be deemed to have made a favorable decision.