Common use of Partial Assignment of Areas during the Exploration Phase Clause in Contracts

Partial Assignment of Areas during the Exploration Phase. If the Contracting Party, based on ANP’s opinion, authorizes Assignment resulting in division of the Contract Area, each of the area to be assigned and the remaining area shall be delimited by a single polygonal line determined according to criteria established by ANP.

Partial Assignment of Areas during the Exploration Phase. If the Contracting Party, based on ANP’s opinion, authorizes Assignment resulting in division of the Contract Area, each of the area to be assigned and the remaining area shall be delimited by a single polygonal line determined according to criteria established by ANP. The resulting areas shall be independent for all purposes, including for calculation of the Government Revenue. ANP may define an additional Minimum Exploration Program for the areas to be divided.