Exploration Period. 1. Pursuant to the Concession Decree-Law, an Initial Exploration Phase of five (5) Contract Years shall start from the Effective Date. One (1) successive extension of three (3) Contract Years (the Optional Exploration Phase) may follow the Initial Exploration Phase, provided that Contractor notifies Sonangol in writing of such extension, at least thirty (30) days before the end of the Initial Exploration Phase, and if, unless otherwise agreed by Sonangol, Contractor has fulfilled its obligations in respect of such Phase.
Exploration Period. The Exploration Period shall have a duration of six (6) Years and three (3) Months as of the Effective Date and shall be divided into the phases described below. The first phase of the Exploration Period shall begin on the Effective Date and the following phases on the Calendar Day immediately following termination of the previous phase: Phase 1 for a period of fifteen (15) months Phase 2 for a period of twelve (12) months Phase 3 for a period of twelve (12) months Phase 4 for a period of twelve (12) months Phase 5 for a period of twelve (12) months Phase 6 for a period of twelve (12) months
Exploration Period. 6.1. The Exploration Period shall be for a period not exceeding five (5) Contract Years from the Effective Date, divided into:
Exploration Period. The term for THE ASSOCIATE to comply with the obligations set forth in Clause 5 here in below, not to exceed six (6) years from the Effective Date, except as provided for in Clauses 9 (numerals 9.3, 9.8) and 34.
Exploration Period. 3.1 The Exploration Period shall begin on the Effective Date and shall not cover a period of more than six and one half (61/2) years except as provided for in accordance with this Agreement and the Petroleum Law.
Exploration Period. 9.1 According to the Contract, the Exploration period shall consist of 6 consecutive years (2003-2009 years) and may be prolonged under mutual consent twice with a duration of each period of no more then 2 (two) years in accordance with the Legislation on Subsoil Use. In this case, the Parties shall determine in advance the part of the Contract Territory to be left for the Exploration and introduce changes into the Work Program.
Exploration Period. 3.2.1 The Exploration Period shall be seven (7) years divided into three (3) phases as follows:
Exploration Period. The Exploration Period will last six (6) Years, as of the Effective Date and will be divided into the phases described in Annex C. The first phase begins on the Effective Date and the following phases on the Calendar Day immediately following the end of the preceding phase:
Exploration Period. 9.1. Exploration Period consists of six successive years according to the License and may be extended twice as mutually agreed by the Parties with each period of extension as long as two years. Hereby the Parties shall determine the part of the Contractual Area for further exploration and make appropriate changes in the Working Program.
Exploration Period. The duration of the Exploration Period shall be five (5) Years.
