Common use of Production Period Clause in Contracts

Production Period. 1. Following each Commercial Discovery, the extent of the whole area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor Group. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be ( ) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits. 2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within ( ) Years from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted as part of a regular program of lifting in accordance with the Lifting Schedule.

Production Period. 1. Following each Commercial Discovery, the extent of the whole whore area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor GroupContractor. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be ( twenty-five (25) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits. 2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within ( forty-two (42) Years Months from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted done as part of a regular program of lifting in accordance with the Lifting Schedule.

Production Period. 1. Following each Commercial Discovery, the extent of the whole whore area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor GroupContractor. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be ( twenty-five (25) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits. 2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within ( forty- two (42) Years Months from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted done as part of a regular program of lifting in accordance with the Lifting Schedule.

Production Period. 1. Following each Commercial Discovery, the extent of the whole area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor GroupContractor. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be ( twenty (20) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits. 2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within ( forty-two (42) Years Months from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted done as part of a regular program of lifting in accordance with the Lifting Schedule.

Production Period. 1. Following each Commercial Discovery, the extent of the whole area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor GroupContractor. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be ( twenty-five (25) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits. 2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within ( forty-two (42) Years Months from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted done as part of a regular program of lifting in accordance with the Lifting Schedule.