Common use of Mandatory Relinquishments Clause in Contracts

Mandatory Relinquishments. 2.4.1 The Contractor must relinquish to the State forty percent (40%) of the initial surface area of the Contract Area by the end of the Initial Exploration Period, twenty-five percent (25%) of the remaining area by the end of the First Extension Period, and the remainder of the Contract Area by the end of the Second Extension Period, or at the end of the Initial Exploration Period or the First Extension Period, if no further extension is requested by the Contractor. To determine the area or areas which the Contractor shall relinquish, the following areas shall be excluded for the purposes of such calculation: (a) areas designated as an Appraisal Area; (b) Development and Production Areas; (c) areas for which the approval of a Development and Production Plan is pending, until finally decided; (d) the area of any Field, including any Field which may be subject to unitization pursuant to Article 22; and (e) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the Ministry in accordance with Article 13.1. 2.4.2 Upon expiry of the applicable final extension period indicated in Article 2.2, and subject to the provisions of Article 2.2.4, the Contractor shall relinquish the remainder of the Contract Area, with the exception of: (a) Development and Production Areas; (b) those areas for which an application for a Development and Production Area is pending, until finally decided; (c) the area of any Field, including any Field which may be subject to unitization pursuant to Article 22; and (d) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the Ministry in accordance with Article 13.

Mandatory Relinquishments. 2.4.1 The Contractor must relinquish to the State forty thirty percent (4030%) of the initial surface area of the Contract Area by the end of the Initial Exploration Period, twenty-five percent (25%) of the remaining area by the end of the First Extension Period, and the remainder of the Contract Area by the end of the Second Extension Period, or at the end of the Initial Exploration Period or the First Extension Period, if no further extension is requested by the Contractor. To determine the area or areas which the Contractor shall relinquish, the following areas shall be excluded for the purposes of such calculation: (a) areas designated as an Appraisal Area; (b) Development and Production Areas; (c) areas for which the approval of a Development and Production Plan is pending, until finally decided; (d) the area of any Field, including any Field which may be subject to unitization pursuant to Article ‎Article 22; and (e) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the Ministry in accordance with Article 13.1‎13.1. 2.4.2 Upon expiry of the applicable final extension period indicated in Article 2.2‎2.2, and subject to the provisions of Article 2.2.4‎2.2.4, the Contractor shall relinquish the remainder of the Contract Area, with the exception of: (a) Development and Production Areas; (b) those areas for which an application for a Development and Production Area is pending, until finally decided; (c) the area of any Field, including any Field which may be subject to unitization pursuant to Article ‎Article 22; and (d) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the Ministry in accordance with Article ‎Article 13.

Mandatory Relinquishments. 2.4.1 The Contractor must relinquish to the State forty thirty percent (4030%) of the initial surface area of the Contract Area by the end of the Initial Exploration Period, twenty-five percent (25%) of the remaining area by the end of the First Extension Period, and the remainder of the Contract Area by the end of the Second Extension Period, or at the end of the Initial Exploration Period or the First Extension Period, if no further extension is requested by the Contractor. To determine the area or areas which the Contractor shall relinquish, the following areas shall be excluded for the purposes of such calculation: (a) areas designated as an Appraisal Area; (b) Development and Production Areas; (c) areas for which the approval of a Development and Production Plan is pending, until finally decided; (d) the area of any Field, including any Field which may be subject to unitization pursuant to Article 22‎22; and (e) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the Ministry in accordance with Article 13.1‎13.1. 2.4.2 Upon expiry of the applicable final extension period indicated in Article 2.2‎2.2, and subject to the provisions of Article 2.2.4‎2.2.4, the Contractor shall relinquish the remainder of the Contract Area, with the exception of: (a) Development and Production Areas; (b) those areas for which an application for a Development and Production Area is pending, until finally decided; (c) the area of any Field, including any Field which may be subject to unitization pursuant to Article 22‎22; and (d) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the Ministry in accordance with Article 13‎13.