LONG RANGE PLAN AND FORECAST. 31.22.1 Licensee shall prepare and submit to the Director General the following:
a) Estimated Exploration Costs showing outlays for each of the years or the number of years agreed and covered by the Plan.
b) Details of seismic operations for each such year,
c) Details of drilling activities planned for each such year;
d) Details of infrastructure utilization and requirements.
31.22.2 The Exploration Plan shall be revised on each anniversary of the Effective Date. Licensee shall prepare and submit to the Director General the first Exploration Plan for the Initial Exploration Period of two (2) years within sixty (60) days of the Effective Date and thereafter shall prepare and submit to The Director General no later than forty-five (45) days before each anniversary of the Effective Date a revised Exploration Plan.
a) In the event of a Development Plan being approved, the Licensee shall prepare a Development Forecast for each calendar year of the Development Period, which shall contain the following information:
i. forecast of the capital expenditure portions of Development and Production expenditures for each Calendar Year of the Development Period;
ii. forecast of operating costs for each Calendar Year;
iii. forecast of Petroleum production for each Calendar Year;
iv. description of main technologies employed; and
b) The Development forecast shall be revised at the beginning of each Calendar Year commencing as of the second year of the first Development forecast. Licensee shall prepare and submit to the Director General the first Development forecast within one hundred and twenty (120) days of the date when the first Development Plan is approved by the Director General no later than forty-five (45) days before each Calendar Year commencing as of the second year of the first Development forecast.
LONG RANGE PLAN AND FORECAST. The Concessionaires shall prepare and submit to the Government either one or both of the following two (2) long range plans, whichever is appropriate: During the Exploration Period, the Concessionaires shall prepare an Exploration Plan for the current year and next calendar year commencing as of the first day of January following the Effective Date (hereinafter referred to as the “Exploration Plan”) which shall contain the following information:
(a) Estimated Exploration Costs showing outlays for each of the calendar years covered by the Exploration Plan.
(b) Details of seismic operations planned for each such year.
(c) Details of all drilling activities planned for each such year.
(d) Details of infrastructure utilisation and requirements. The first such Exploration Plan shall also include the above information for the period starting on the Effective Date and ending on the last day of December of that calendar year. The Exploration Plan shall be revised at the beginning of each calendar year following of the Effective Date. The Concessionaires shall prepare and submit to the Government the first Exploration Plan within sixty (60) calendar days of the Effective Date and thereafter shall prepare and submit to the Government no less than ninety (90) calendar days before the end of each calendar year following the Effective Date a revised Exploration Plan.
LONG RANGE PLAN AND FORECAST. 13.1 Licensee shall prepare and submit to the Director General the following:
i) Estimated Exploration Costs showing outlays for each of the years or the number of years agreed and covered by the Plan.
ii) Details of seismic operations for each such year,
iii) Details of drilling activities planned for each such year;
iv) Details of infrastructure utilization and requirements.
LONG RANGE PLAN AND FORECAST. 12.1 Contractor shall prepare and submit to GNPC the following:
a) During Exploration Period, an Exploration Plan for each year commencing as of the Effective Date which shall contain the following information:
i) Estimated Exploration Costs showing outlays for each of the years or the number of years agreed and covered by the Plan;
ii) Details of seismic operations for each such year;
iii) Details of drilling activities planned for each such year;
iv) Details of infrastructure utilisation and requirements. The Exploration Plan shall be revised on each anniversary of the Effective Date. Contractor shall prepare and submit to GNPC the first Exploration Plan for the First Subperiod of eighteen (18) months within ninety (90) days after the Effective Date and thereafter shall prepare and submit to GNPC no later than ninety (90) days before the start of such year during the Exploration Period, a revised Exploration Plan.
b) In the event of a Development Plan being approved, the Contractor shall prepare a Development forecast for each Calendar Year of the Development Period, which shall contain the following information:
i) forecast of capital expenditure portions of Development Expenditures and Production Expenditures for each Calendar Year of the Development Period;
ii) forecast of Production Expenditures for each Calendar Year;
iii) forecast of Petroleum production for each Calendar year;
iv) forecast of number and types of personnel employed in the Petroleum Operations in the Republic of Ghana;
v) description of proposed Petroleum marketing arrangements;
vi) description of main technologies employed; and
vii) description of the working relationship of Contractor to GNPC.
c) The Development forecast shall be revised at the beginning of each Calendar Year commencing as of the second year of the first Development Period. Contractor shall prepare and submit to GNPC the first Development forecast within one hundred and twenty (120) days after the first Date of Commercial Discovery and Contractor commences the implementation of the Development Plan and thereafter shall prepare and submit a revised Development forecast to GNPC no later than thirty (30) days before each Calendar Year commencing as of the second year of the first Development forecast.
