MINIMUM EXPLORATION WORK PROGRAMME Clause Samples
The Minimum Exploration Work Programme clause sets out the specific exploration activities and commitments that a party, typically an oil, gas, or mineral exploration company, must complete within a defined period under a contract or license. This clause details the types and quantities of work required, such as seismic surveys, drilling a certain number of wells, or spending a minimum amount on exploration. By clearly defining these obligations, the clause ensures that the license holder actively explores the area and prevents them from holding rights without making progress, thereby promoting resource development and discouraging speculative hoarding of exploration rights.
MINIMUM EXPLORATION WORK PROGRAMME. 7.1 Contractor shall commence Exploration Operations hereunder within ninety (90) days after the Effective Date. Such Exploration Operations shall be diligently and continuously carried out in accordance with sound and current international Petroleum industry practices for the duration of the Exploration Period.
7.2 During the first phase of the Exploration Period, Contractor shall carry out to the value of ………………. United States Dollars (US$................) at least the following Minimum Exploration Work Programme consisting of ………… Work Units:
MINIMUM EXPLORATION WORK PROGRAMME. BANK GUARANTEE
4.1 In discharge of its obligation to carry out Exploration operations in the Contract Area, Contractor shall, in accordance with the provisions of this Article, carry out the Minimum Exploration Work Programmes and shall expend the corresponding Minimum Expenditures as follows: 4.
1.1 Initial Exploration Period Commencing on the day on which the Exploration Licence becomes effective and terminating on the fourth anniversary of such date, the following Exploration work shall be carried out:
(a) Minimum Work Programme:
(i) geological and geophysical work: (to be specified); (ii) Exploration drilling: the drilling and evaluation of at least ______ (___)
MINIMUM EXPLORATION WORK PROGRAMME. (1) Subject to the other relevant provisions of this Agreement, the Company shall carry out with expedition and due diligence in the Agreement Area the minimum exploration programme of work specified in any period referred to or identified in Part I of the Second Schedule to this Agreement.
(2) Where the Company fails to carry out any part of the minimum exploration work programme specified in Part I of the Second Schedule to this Agreement for a period, Part II of that Schedule shall apply for the purpose of determining the amount (if any) payable by the Company to the Government at the end of such period for that failure, it being agreed that it shall be without prejudice to any other right which the Government may have under this Agreement in respect of that failure and that the amount so payable represents the loss to the Government by reason of the failure and is not a mere penalty.
(3) For so long as the Exploration Phase continues, the Company shall, within thirty (30) days after the end of each month of that phase, submit to the Minister a detailed written report giving particulars of the exploration carried out in that month.
(4) Where any portion(s) of the minimum exploration work programme obligations relating to the Exploration Phase remains outstanding at the time of the commencement of the Development Phase, any such outstanding portions of the work programme shall pertain to acreage outside the Development Area.