Initial Exploration Period. The Initial Exploration Period shall have duration of up to four (4) Contract Years from the Effective Date. The Contractor shall be required to complete at least the Minimum Work Program during the Initial Exploration Period. The Contractor may, carry out during the Initial Exploration Period, a fraction or all of the Petroleum Activities provided in the Minimum Program Increase, or as applicable, perform them during the Additional Exploration Period. Likewise, it may carry out additional Work Units pursuant to the terms of the Work Programs and Budgets approved by CNH. Such additional Work Units would be credited in the event that CNH grants the Additional Exploration Period as provided in Article 4.3.
Initial Exploration Period. As of and from the Effective Date, the Contractor is authorized to conduct Exploration Operations in the Contract Area during the Initial Exploration Period.
Initial Exploration Period. (i) Minimum exploration work (To be specified in detail)
(ii) Minimum exploration expenditure The amount to be specified here should:
(a) reflect the minimum amount to be spent in completing the minimum exploration work in (i) above but excluding the cost of residential and office accommodation, annual charges payable under clause 13.1(b) and the annual sum to be spent pursuant to clause 22.3;
(b) be an amount expressed in constant price terms at price levels pertaining on the date of signature.
Initial Exploration Period. The Initial Exploration Period shall have duration of up to four (4) Years from the Exploration Plan approval. The Contractor shall be required to complete, at least, the corresponding Minimum Work Program and the Minimum Program Increase during the Initial Exploration Period. Notwithstanding the obligations to access to the First Additional Exploration Period, the Contractor may conduct the Work Units equivalent to one (1) Well during the First Additional Exploration Period, in the event that it has committed to perform the Work Units equivalent to two (2) Xxxxx as Minimum Program Increase. The Contractor may request, by written notice to the CNH with at least sixty
Initial Exploration Period. İlkin kəşfiyyat dövrü Qüvvəyəminmə tarixində başlayacaq və (i) həmin tarixdən etibarən otuz (30) ay keçdiyi tarixdən, yaxud (ii) Perspektivlik haqqında bildirişin verildiyi tarixdən (bu tarixlərdən hansının daha tez baş verməsindən asılı olaraq) bilavasitə sonrakı tarixdə bitəcək. The Initial Exploration Period shall commence on the Effective Date and shall expire on the date immediately following (i) a period of thirty (30) months from the Effective Date, or (ii) the date of the Notice of Prospectivity, whichever is earlier.
Initial Exploration Period. Commencing on the Effective Date and terminating at the end of the two and one half (21/2) Contract Years which is made up of the following;
Initial Exploration Period. As of and from the Effective Date, the Contractor is authorized to conduct Exploration Operations in the Contract Area during the Initial Exploration Period.
2.1.1 Upon the fulfillment by the Contractor of its Exploration obligations set forth in Article 3.1.1 with respect to the First Exploration Sub-Period, the Contractor may elect to enter the Second Exploration Sub-Period.
2.1.2 To elect to enter the Second Exploration Sub-Period, the Contractor shall file a request with the Ministry at least two (2) months prior to the expiry of the First Exploration Sub-Period. The Ministry shall not unreasonably withhold or delay the granting of such request; provided that the Contractor has complied with all of its obligations in the First Exploration Sub-Period and shall not be otherwise in breach of this Contract.
Initial Exploration Period. The Initial Exploration Period shall have duration of up to four (4) Years from the Exploration Plan approval. The Contractor shall be required to complete, at least, the corresponding exploration activities of the Minimum Work Program as established in Annex 5 hereto. The Contractor may request, by written notice to the CNH with at least sixty
Initial Exploration Period. The Initial Exploration Period shall have a duration of up to three (3) Contract Years from the Effective Date. The Contractor shall be required to complete at least the Minimum Work Program during the Initial Exploration Period. The Contractor may, in accordance with the Work Programs and Budgets approved by CNH, carry out such additional Petroleum Activities as it considers advisable.
Initial Exploration Period. Commencing on the day on which the Exploration Licence is granted to TPDC pursuant to Article 3 and terminating on the fourth anniversary of that date: Description of Work: (To be specified in detail, however, the undertaking of 2D and 3D seismic surveys and at least one well commitment expected). Minimum Expenditure for this period: US$ [ ] million. Commencing on the day on which a first extension of the licence granted is issued to TPDC pursuant to Article 3 takes effect and terminating on the fourth anniversary of that date: Description of Work: (To be specified in detail, however, the undertaking of 2D and 3D seismic surveys and at least one well commitment expected). Minimum Expenditure for this period: US$ [ ] million. Commencing on the day on which a second extension of the licence granted to TPDC pursuant to Article 3 takes effect and terminating on the third anniversary of that dated: Description of Work: (To be specified in detail, however, the undertaking of 2D and 3D seismic surveys and at least one well commitment expected). Minimum Expenditure For this period : US$ [ ] million.
