Common use of Performance of Exploration Work Programme and Budget Clause in Contracts

Performance of Exploration Work Programme and Budget. (a) If any well forming part of the Exploration Work Programme and Budget provided for in this Article 4 is abandoned for any reason other than a reason specified in paragraph 4.4 (b) before reaching the defined objectives of such well, the Contractor shall drill a substitute well. In this event, the First, Second or Third Exploration Period, as the case may be, shall be extended by a period of time equal in length to the time spent in preparing for and drilling the substitute well, including mobilisation and demobilisation of the drilling rig, if applicable. (b) Unless otherwise agreed by the Designated Authority, any well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 shall be drilled to such depth as is necessary for the evaluation of the geological formation established by the available data as the target formation and which Good Oil Field Practices would require the Contractor to attain, unless before reaching such depth: (i) a formation stratigraphically older than the deepest target formation is encountered; (ii) basement is encountered; (iii) further drilling would present an obvious danger, such as but not limited to the presence of abnormal pressure or excessive losses of drilling mud; (iv) impenetrable formations are encountered; (v) Petroleum bearing formations are encountered which require protecting, thereby preventing planned depths from being reached; (vi) the Contractor and the Designated Authority agree to terminate the drilling operation; or (vii) the Designated Authority confirms that the drilling obligation has been fulfilled. In such circumstances the drilling of any such well may be terminated at a lesser depth and shall be deemed to have satisfied the Contractor’s obligations in respect of that well. (c) Where a well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 results in a Discovery and the Contractor informs the Designated Authority pursuant to sub-Article 4.9 that the Discovery merits Appraisal, that well will be deemed to have met its objective and to have satisfied the Contractor’s obligations in respect of that well.

Performance of Exploration Work Programme and Budget. (a) If any well forming part of the Exploration Work Programme and Budget provided for in this Article 4 is abandoned for any reason other than a reason specified in paragraph 4.4 4.3 (b) before reaching the defined objectives of such well, the Contractor shall drill a substitute well. In this event, the First, Initial or Second or Third Exploration Period, as the case may be, shall be extended by a period of time equal in length to the time spent in preparing for and drilling the substitute well, including mobilisation and demobilisation of the drilling rig, if applicable. (b) Unless otherwise agreed by the Designated Authority, any well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 shall be drilled to such depth as is necessary for the evaluation of the geological formation established by the available data as the target formation and which Good Oil Field Practices would require the Contractor to attain, unless before reaching such depth: (i) a formation stratigraphically older than the deepest target formation is encountered; (ii) basement is encountered; (iii) further drilling would present an obvious danger, such as but not limited to the presence of abnormal pressure or excessive losses of drilling mud; (iv) impenetrable formations are encountered; (v) Petroleum bearing formations are encountered which require protecting, thereby preventing planned depths from being reached; (vi) the Contractor and the Designated Authority agree to terminate the drilling operation; or (vii) the Designated Authority confirms that the drilling obligation has been fulfilled. In such circumstances the drilling of any such well may be terminated at a lesser depth and shall be deemed to have satisfied the Contractor’s obligations in respect of that well. (c) Where a well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 results in a Discovery and the Contractor informs the Designated Authority pursuant to sub-Article 4.9 4.8 that the Discovery merits Appraisal, that well will be deemed to have met its objective and to have satisfied the Contractor’s obligations in respect of that well.

Performance of Exploration Work Programme and Budget. (a) If any well forming part of the Exploration Work Programme and Budget provided for in this Article 4 is abandoned for any reason other than a reason specified in paragraph 4.4 (b4.4(b) before reaching the defined objectives of such well, the Contractor shall drill a substitute well. In this event, the First, Second or Third Exploration Period, as the case may be, shall be extended by a period of time equal in length to the time spent in preparing for and drilling the substitute well, including mobilisation and demobilisation of the drilling rig, if applicable. (b) Unless otherwise agreed by the Designated Authority, any well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 shall be drilled to such depth as is necessary for the evaluation of the geological formation established by the available data as the target formation and which Good Oil Field Practices would require the Contractor to attain, unless before reaching such depth: (i) a formation stratigraphically older than the deepest target formation is encountered; (ii) basement is encountered; (iii) further drilling would present an obvious danger, such as but not limited to the presence of abnormal pressure or excessive losses of drilling mud; (iv) impenetrable formations are encountered; (v) Petroleum bearing formations are encountered which require protecting, thereby preventing planned depths from being reached;; or (vi) the Contractor and the Designated Authority agree to terminate the drilling operation; orand (vii) the Designated Authority confirms that the drilling obligation has been fulfilled. ; In such circumstances the drilling of any such well may be terminated at a lesser depth and shall be deemed to have satisfied the Contractor’s obligations in respect of that well. (c) Where a well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 results in a Discovery and the Contractor informs the Designated Authority pursuant to sub-Article Section 4.9 that the Discovery merits Appraisal, that well will be deemed to have met its objective and to have satisfied the Contractor’s obligations in respect of that well.

Performance of Exploration Work Programme and Budget. (a) If any well forming part of the Exploration Work Programme and Budget provided for in this Article 4 is abandoned for any reason other than a reason specified in paragraph 4.4 (b4.4(b) before reaching the defined objectives of such well, the Contractor Contractors shall drill a substitute well. In this event, the Firstfirst, Second second or Third third Exploration Periodperiod, as the case may be, shall be extended by a period of time equal in length to the time spent in preparing for and drilling the substitute well, including mobilisation and demobilisation of the drilling rig, if applicable. (b) Unless otherwise agreed by the Designated AuthorityMinistry, any well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 shall be drilled to such depth as is necessary for the evaluation of the geological formation established by the available data as the target formation and which Good Oil Field Practices would require the Contractor Contractors to attain, unless before reaching such depth: (i) a formation stratigraphically older than the deepest target formation is encountered; (ii) basement is encountered; (iii) further drilling would present an obvious danger, such as but not limited to the presence of abnormal pressure or excessive losses of drilling mud; (iv) impenetrable formations are encountered; (v) Petroleum Petroleum-bearing formations are encountered which require protecting, thereby preventing planned depths from being reached;; or (vi) the Contractor Contractors and the Designated Authority Ministry agree to terminate the drilling operation; orand (vii) the Designated Authority Ministry confirms that the drilling obligation has been fulfilled. In such circumstances the drilling of any such well may be terminated at a lesser depth and shall be deemed to have satisfied the Contractor’s Contractors’ obligations in respect of that well. (c) Where a well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 results in a Discovery and the Contractor informs Contractors inform the Designated Authority Ministry pursuant to sub-Article Section 4.9 that the Discovery merits Appraisal, that well will be deemed to have met its objective and to have satisfied the Contractor’s Contractors’ obligations in respect of that well.

Performance of Exploration Work Programme and Budget. (a) If any well forming part of the Exploration Work Programme and Budget provided for in this Article 4 is abandoned for any reason other than a reason specified in paragraph 4.4 (b) before reaching the defined objectives of such well, the Contractor shall drill a substitute well. In this event, the First, Second or Third Exploration Period, as the case may be, shall be extended by a period of time equal in length to the time spent in preparing for and drilling the substitute well, including mobilisation and demobilisation of the drilling rig, if applicable. (b) Unless otherwise agreed by the Designated Authority, any well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 shall be drilled to such depth as is necessary for the evaluation of the geological formation established by the available data as the target formation and which Good Oil Field Practices would require the Contractor to attain, unless before reaching such depth: (i) a formation stratigraphically older than the deepest target formation is encountered; (ii) basement is encountered; (iii) further drilling would present an obvious danger, such as but not limited to the presence of abnormal pressure or excessive losses of drilling mud; (iv) impenetrable formations are encountered; (v) Petroleum bearing formations are encountered which require protecting, thereby preventing planned depths from being reached; (vi) the Contractor and the Designated Authority agree to terminate the drilling operation; or (vii) the Designated Authority confirms that the drilling obligation has been fulfilled. In such circumstances the drilling of any such well may be terminated at a lesser depth and shall be deemed to have satisfied the Contractor’s 's obligations in respect of that well. (c) Where a well which forms part of the Exploration Work Programme and Budget provided for in this Article 4 results in a Discovery and the Contractor informs the Designated Authority pursuant to sub-Article 4.9 that the Discovery merits Appraisal, that well will be deemed to have met its objective and to have satisfied the Contractor’s 's obligations in respect of that well.