Common use of DISCOVERY, DEVELOPMENT AND PRODUCTION Clause in Contracts

DISCOVERY, DEVELOPMENT AND PRODUCTION. 10.1 If and when a Discovery is made within the Contract Area, the Contractor shall notify the Management Committee of the sameas per the prescribed formatwithin seven (7) days from the establishment of the Discovery. The Contractor shall promptly run tests after completion of drilling, as it may determine to be required under Modern Oil Field and Petroleum Industry Practices in respect of such Discovery, to determine whether the Discovery is of potential commercial interest and submit the informationin relation to the particulars of such Discoveryin writing as per the prescribed format within one hundred and eighty(180) days fromthe initial notification of the Discovery to the Management Committee. The Contractor’s information about the Discovery submitted under this Article 10.1 shall also specify whether such a Discovery falls under HPHT or Tight Reservoir conditions,which inter- aliashall contain data obtained from such tests, its analysis and interpretation thereof and also specify if it merits appraisal. For development of CBM, Article 10.9 shall apply.

DISCOVERY, DEVELOPMENT AND PRODUCTION. 10.1 If and when a Discovery is made within the Contract Area, the Contractor shall notify the Management Committee of the sameas per the prescribed formatwithin seven (7) days from the establishment of the Discovery. The Contractor shall promptly run tests after completion of drilling, as it may determine to be required under Modern Oil Field and Petroleum Industry Practices in respect of such Discovery, to determine whether the Discovery is of potential commercial interest and submit the informationin relation to the particulars of such Discoveryin writing as per the prescribed format within one hundred and eighty(180) days fromthe initial notification of the Discovery to the Management Committee. The Contractor’s information about the Discovery submitted under this Article 10.1 shall also specify whether such a Discovery falls under HPHT or Tight Reservoir conditions,which inter- inter-aliashall contain data obtained from such tests, its analysis and interpretation thereof and also specify if it merits appraisal. For development of CBM, Article 10.9 shall apply.