JOINT WORK PROGRAMME AND BUDGET Clause Samples

JOINT WORK PROGRAMME AND BUDGET. 14.1.1 The Operator shall, if the Operating Committee so decides and as soon as practicable after such decision, submit to the Non-Operators a proposed development Work Programme and Budget for a Discovery showing: (a) the projects and other work to be undertaken; (b) the information required under the Accounting Procedure; (c) the manner in which the development is to be managed with details of the number of employees and contract personnel required; (d) the estimate of the date of commencement of production and of the annual rates of production; and (e) such other information as the Operating Committee shall have required the Operator to provide. 14.1.2 The proposed development Work Programme and Budget shall be subject to consideration, revision and approval by the Operating Committee. The Operating Committee shall meet to consider such development Work Programme and Budget as soon as practicable and to make such revisions thereto as shall be agreed. Unless the Operating Committee otherwise agrees to an earlier date, the Operating Committee shall approve or reject the development Work Programme and Budget within thirty (30) Days of its submission by the Operator to the Parties provided that, within the said period of thirty (30) Days any Party wishing to carry out further work or studies in connection with the development of the Discovery may, by notice to the other Party specifying the further work or studies, require that the said period be extended up to a maximum total period of: (a) in the case of the carrying out of further appraisal drilling of the Discovery, ninety (90) Days; and (b) in all other cases, sixty (60) Days; and in such event the said period shall be so extended. A Party proposing to carry out further appraisal drilling of the Discovery shall, in its said notice to the other Party, inform them of its intention and: (i) the Operator shall carry out such drilling at the risk, cost and expense of such Party and the provisions of Article XVI (other than the first sentence of Article 16.3) shall apply as if such Party were a Sole Risk Party and such drilling were Sole Risk Operation under that Article; (ii) such Party shall not be entitled to any reimbursement from the other Party of the costs and expenses thereof, unless as a result of such drilling all the Parties decide not to proceed with the development of the Discovery in which event the other Party shall pay to such Party within twenty-eight (28) Days of the decision not to proceed...