Relinquishment of Areas. In case of use of pre-existing xxxxx or infrastructure, the Contracted Parties shall undertake, with respect to them, the responsibilities provided for in the Agreement and in the Applicable Laws and Regulations. In case of a Field, the plan for decommissioning and abandonment and the mechanisms to make the necessary funds available shall be provided for in the respective Development Plan and revised from time to time throughout the Production Phase through the Annual Budget and Work Programs. The cost of decommissioning and abandonment of the Operations shall be established in order to cover the activities of permanent abandonment of xxxxx, decommissioning and removal of lines and facilities, and rehabilitation of areas, under the Applicable Laws and Regulations.
Relinquishment of Areas. In case of use of pre-existing xxxxx or infrastructure, the Contractors shall undertake, with respect to them, the responsibilities provided for in the Agreement and in the Applicable Laws and Regulations.
Relinquishment of Areas. 6.1 The Contractor must relinquish the Contract Area or part thereof in accordance with the following:
(a) twenty-five percent (25%) of the initial surface area of the Contract Area shall be relinquished at the end of Phase I of the Exploration Period;
(b) a further twenty-five percent (25%) of the initial surface area of the Contract Area shall be relinquished at the end of Phase II of the Exploration Period; and
(c) the remainder of the Contract Area shall be relinquished at the end of Phase III of the Exploration Period less:
(i) any area which is the subject of an approved Appraisal program pursuant to Clause 5.1(b) or any Development Area;
(ii) areas for which the approval of a Field Development Program is pending, until finally decided; and
(iii) any area reserved for a possible Unassociated Natural Gas Appraisal in relation to which the Contractor is engaged in discussions with the State in accordance with Clause 23.4.
6.2 Any Retained Area and Relinquished Area shall be, as far as possible, single continuous units and delimited by meridians of longitude and parallels of latitude defined in the relevant coordinate reference system using degrees, minutes and seconds to the nearest whole minute to be approved by the National Petroleum Agency. In the case where the Retained Area or Relinquished Area is aligned with an international maritime boundary the international maritime boundary shall define the relevant edges of the Retained Area or Relinquished Area.
6.3 Any Relinquished Area shall revert to the State.
6.4 Subject to the Contractor's obligations under Clause 7 and its Decommissioning obligations, the Contractor may at any time notify the National Petroleum Agency upon three (3) months prior written notice that it relinquishes its rights over all or part of the Contract Area. In no event shall any voluntary relinquishment by the Contractor over all or any part of the Contract Area reduce the Minimum Work Obligations or Minimum Financial Commitment set out in Clause 7.
Relinquishment of Areas. ONE
(1). The Contractor must relinquish part of the Contract Area at the end of each sub-period of exploration as follows: For the First Sub-Period, at least 0.8% (zero point eight percent) of the Contract Area, equivalent to two lots of 2 minutes x 2 minutes each, corresponding to an area measuring 2,666 (two thousand six hundred sixty six) hectares. For the Second Sub-Period, at least 1.2% (one point two percent) of the Contract Area, equivalent to four lots of 2 minutes x 2 minutes each, corresponding to an area measuring 3.999 (three thousand nine hundred ninety nine) hectares. For the Third Sub-Period, at least 4.8% (four point eight percent) of the Contract Area, equivalent to twelve lots measuring 2 minutes x 2 minutes each, corresponding to an area measuring 15,996 (fifteen thousand nine hundred ninety six) hectares.
Relinquishment of Areas. 5.1 If TAKT does not go into the second exploration phase, then it must relinquish all areas with the exception of the extraction areas on the expiry of the first exploration period.
5.2 After the expiry of the second exploration period, TAKT must relinquish all those parts, which it has not designated as extraction areas.
5.3 During the exploration period TAKT may voluntarily give up parts of the contractual area, but without however being released from the obligations of the minimum work obligation. The relinquishment of areas in accordance with this Article 5.3 shall become legally effective 30 days after the receipt by the Government of an appropriate notification.
5.4 At the end of the relevant exploration period TAKT will retain areas, which are in Section 1 and/or Section 2, to the Government, which in the opinion of TAKT are no longer worth exploration.
5.5 In accordance with standard practice throughout thc world in the petroleum and natural gas industry as well as in accordance with the rules, which in the RS apply to the area of environmenta1 protection and protection of the natural earth resources, TAKT will restore the areas, which it has to hand back in accordance with this Article 5 and on which it has carried out survey and extraction activities.
Relinquishment of Areas. Relinquishment at the end of the 5th (fifth) year of at least 50% (fifty percent) of the area of the concession may be distributed in an unequal manner among the 4 (four) concessions, to be proposed and subject to authorization, thus the relinquishment of at least 25% (twenty-five percent) of the concession area is therefore mandatory per concession.
Relinquishment of Areas. 7.1 Where, pursuant to a request by the Concessionaire under Articles 3.5 (a) and (b), the Exploration Period is extended at the end of the Initial Exploration Period or subsequently, the Concessionaire shall relinquish its rights:
(a) at the commencement of the second Exploration Period of (--) months in respect of a portion of the EPC Area so that the area retained, excluding what is already included in a Development and Production Area or in a Discovery Area, does not exceed per cent (-- %) of the EPC Area on the Effective Date;
(b) at the commencement of a third Exploration Period of (--) months in respect of a portion of the EPC Area so that the area retained, excluding what is already included in a Development and Production Area or in a Discovery Area, does not exceed per cent (-- %) of the EPC Area on the Effective Date;
(c) at the end of the third Exploration Period in respect of the remainder of the EPC Area other than any Development and Production Areas or any area in respect of which the Exploration Period has been further extended pursuant to Articles 3.5 (c) and (d).
7.2 For the purpose of this Article, a Discovery Area shall not include any area which relates to a Discovery in respect of which:
(a) the Concessionaire has notified MIREM that the Discovery is not considered to be of potential commercial interest, is not commercial or is no longer considered to be commercial.
(b) a Development and Production Area has previously been delineated.
Relinquishment of Areas. 5.1 If prior to the end of the initial period of the Petroleum Prospecting Licence issued to the Contractor under Article 3.1, an application is made by the Contractor for renewal of the Licence under section 24 (1) of the Act, the Contractor shall relinquish at the end of the initial period an area equal to at least twenty percent (20%) of the original Contract Area less the exclusions provided for in Article 5.
5.2 If prior to the end of the first renewal period of the Petroleum Prospecting Licence an application is made by the Contractor for a second renewal of the Licence under section 24(1) of the Act, the Contractor shall then relinquish at the end of this first renewal period an area equal to at least twenty percent (20%) of the original Contract Area less the exclusions provided for in Articles 5.3.
5.3 The areas to be relinquished pursuant to Articles 5.1 and 5.2 shall:
(a) comprise Blocks, as defined in the Act;
(b) exclude any Discovery Area together with a reasonable area of protective acreage surrounding the Discovery Area; and any area under an Appraisal Programme pursuant to Article 8.4;
(c) exclude any Discovery Area of Natural Gas in a market development phase;
(d) exclude any Production Area;
(e) be selected by Contractor so that:
(i) the area relinquished shall comprise one (1) discrete area, having regard to any representations made by the Minister with respect to location, shape and size;
(ii) the blocks to be retained for and during the first renewal period pursuant to Articles 5.1 and 5.2 shall constitute one (1) discrete area unless otherwise agreed to by the Minister.
5.4 In the event that an area or areas cannot be identified for relinquishment in accordance with this Article without including in such area or areas in whole or in part a subsisting Discovery Area or Production Area or the Minister is of the opinion that the area(s) to be relinquished will not enable licensing separately or jointly with contiguous unlicensed areas then the Minister and Contractor shall consult together with a view to agreeing on the area(s) to be relinquished in the light of the circumstances then prevailing. If after sixty
Relinquishment of Areas. 8.1 Upon expiration of the Exploration Period or the extensions thereof obtained by THE ASSOCIATE in accordance with Clause 5 (Item 5.2), if a commercial field has been discovered and accepted by ECOPETROL in the Contracted Area, said area will be reduced to fifty percent (50%); two (2) years later, the area will be reduced to an expanse equivalent to fifty percent (50%) of the remaining Contracted Area, and two (2) years later the area will be reduced to
Relinquishment of Areas. Subject to Clauses 19 and 20, the duration of the OPL relating to this Contract shall be for a period of eight (8) years from the Effective Date.
