Common use of Relinquishment of Development Area Clause in Contracts

Relinquishment of Development Area. (a) Except with the consent of the Designated Authority and subject to paragraph 3.3(b) below, a Development Area shall be deemed to be relinquished on the first to occur of: (i) production from the Development Area ceasing permanently or for a continuous period of twelve (12) months (or, if because of Force Majeure, as is determined by the Designated Authority in consultation with the Contractor under sub-Article 18.5); and (ii) the twenty fifth (25th) anniversary of the date on which the first (1st) Development Plan in respect of the Development Area was approved by the Designated Authority. (b) Where the Contractor has entered into contracts for the sale of Natural Gas, which have been approved as part of a Development Plan, then relinquishment shall be no earlier than the expiry date of those contracts. (c) Without the consent of the Designated Authority, the Contractor may not otherwise relinquish all or any part of a Development Area.

Relinquishment of Development Area. (a) Except with the consent of the Designated Authority and subject to paragraph 3.3(b) below, a Development Area shall be deemed to be relinquished on the first to occur of: (i) production from the Development Area ceasing permanently or for a continuous period of twelve (12) months (or, if because of Force Majeure, as is determined by the Designated Authority in consultation with the Contractor under sub-Article 18.518.2); and (ii) the twenty fifth (25th) anniversary of the date on which the first (1st) Development Plan in respect of the Development Area was approved by the Designated Authority. (b) Where the Contractor has entered into contracts for the sale of Natural Gas, which have been approved as part of a Development Plan, then relinquishment shall be no earlier than the expiry date of those contracts. (c) Without the consent of the Designated Authority, the Contractor may not otherwise relinquish all or any part of a Development Area.