Common use of Relinquishment Clause in Contracts

Relinquishment. 4.1 At the end of the Initial Exploration Period, the Contractor shall have option to relinquish Contract Area after completion of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain the Contract Area by committing to carry out drilling of one well per year in Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) shall be relinquished at the end of 7 or 8 consecutive years, as the case may be, of Exploration Period. 4.2 At the end of the Exploration Period, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 If the Contractor exercises the option provided for in paragraph (b) of Article 3.4, the Contractor shall, after any Discovery Areas or Development Areas have been designated, relinquish all of the Contract Area not included within the said Discovery Areas or Development Areas. 4.4 As and when the Contract is terminated under the provisions of Article 3 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Date and the date of such relinquishment or termination. 4.6 Subject to Article 14.9, the liability of the Contractor shall be limited to any liability undertaken or incurred in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations during the period between the Effective Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may be.

Relinquishment. 4.1 At For the end purpose of the Initial Exploration Periodthis contract, the Contractor shall have option to relinquish Contract Area after completion of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain any relinquishment in the Contract Area by committing to carry out drilling of one well per year in Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) shall be relinquished at in integer multiples of an area of 1‘x 1‘ as specified in the end of 7 or 8 consecutive years, as the case may be, of Exploration PeriodNational Data Repository (NDR). 4.2 At the end On expiry or termination of this Contract or relinquishment of part of the Exploration Period, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 If the Contractor exercises the option provided for in paragraph (b) Contract Area or decommissioning of Article 3.4Petroleum Operations, the Contractor shall: (a) subject to Article 25, after any Discovery Areas remove all equipment and installations from the relinquishment area or Development Areas have been designated, relinquish all of the former Contract Area not included within pursuant to an abandonment plan; and (b) perform all necessary Site Restoration activities in accordance with any specific guidelines, rules or regulations formulated by the said Discovery Areas Government in relation to Site Restoration and in the absence of any such specific guidelines, rules or Development Areasregulations, by Good International Petroleum Industry Practices (GIPIP) and take all other actions necessary to prevent hazards to human life or to the property of others or the environment. 4.4 4.3 As and when the Contract is terminated under the provisions of Article 3 28 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 4.4 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Date and the date of such relinquishment or termination. 4.6 4.5 Subject to Article 14.94.2, the liability of the Contractor shall be limited to any liability undertaken or incurred by or on behalf of the Contractor in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations and Relinquishments under this Article, during the period between the Effective Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may bemaybe.

Relinquishment. 4.1 At If at the end of the Initial first Exploration PeriodPhase, the Contractor elects, pursuant to Article 3.4, to continue Exploration Operations in the Contract Area in the second Exploration Phase, the Contractor shall have option retain up to sixty per cent (60%) of the original Contract Area, including any Development and Discovery Area in not more than three (3) areas of simple geometrical shapes and relinquish Contract Area after completion the balance of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain the Contract Area by committing prior to carry out drilling the commencement of one well the second Exploration Phase. Notwithstanding the provision of this Article 4.1, in the event the Development Areas and Discovery Areas exceed sixty per year in cent ( 60%) of the original Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) Area, the Contractor shall be relinquished at entitled to retain the end extent of 7 or 8 consecutive years, as the case may be, of Exploration PeriodDevelopment Areas and Discovery Areas. 4.2 At the end of the second Exploration PeriodPhase, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 If the Contractor exercises the option provided for in paragraph (b) of Article 3.4, the Contractor shall, after any Discovery Areas or Development Areas have been designated, relinquish all of the Contract Area not included within the said Discovery Areas or Development Areas. 4.4 As and when the Contract is terminated under the provisions of Article 3 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Date and the date of such relinquishment or termination. 4.6 Subject to Article 14.9, the liability of the Contractor shall be limited to any liability undertaken or incurred in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations during the period between the Effective Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may be.

Relinquishment. 4.1 At If at the end of the Initial first Exploration PeriodPhase, the Contractor elects, pursuant to Article 3.4, to continue Exploration Operations in the Contract Area in the second Exploration Phase, the Contractor shall have the option to relinquish Contract Area after completion a part of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain the Contract Area by committing in simple geometrical shape. In case, the Contractor exercises its option to carry out drilling relinquish a part of one well per year in the Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) shall be relinquished at the end of 7 or 8 consecutive yearsthe first Exploration Phase, as then such area to be relinquished shall not be less than twenty five percent (25%) of the case may beoriginal Contract Area and the Contractor shall be entitled to retain the balance area including any Development Area and Discovery Area in not more that three (3) areas of simple geometrical shapes. Notwithstanding the provision of this Article 4.1, of Exploration Periodthe Contractor shall be permitted to retain the Development Areas and Discovery Areas in accordance with Article 3.4. 4.2 At the end of the third Exploration PeriodPhase, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 4.4 If the Contractor exercises the option provided for in paragraph (b) of Article 3.4, the Contractor shall, after any Discovery Areas or Development Areas have been designated, relinquish all of the Contract Area not included within the said Discovery Areas or Development Areas. 4.4 4.5 As and when the Contract is terminated under the provisions of Article 3 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 4.6 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Date and the date of such relinquishment or termination. 4.6 4.7 Subject to Article 14.9, the liability of the Contractor shall be limited to any liability undertaken or incurred in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations during the period between the Effective Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may be.

Relinquishment. 4.1 At the end of the Initial Exploration Period, the Contractor shall have option to relinquish Contract Area after completion of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain the Contract Area by committing to carry out drilling of one well per year in Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) shall be relinquished first relinquishment will take place at the end of 7 or 8 consecutive yearsPhase-II, as the case may be, i.e. after completion of Exploration PeriodMarket Surveys and Commitments Phase-II. 4.2 At In the end of the Exploration Periodfirst relinquishment, the Contractor shall retain only Development Producing and Producible Areas and Discovery Areasrelinquish twenty percent (20%) of the original Contract Area, in not more than two (2) contiguous areas of simple geometrical shapes. 4.3 If Relinquishment provisions mentioned in Article 4.2 above are negotiable and to be finalised and agreed to between the Contractor exercises and the option provided for Government at the end of Phase-II in paragraph case of Block(s) where specific conditions relating to the exploration, warrant such variation on the recommendations of the Steering Committee. 4.4 The second and final relinquishment will take place at the end of the Development Phase (b) of Article 3.4Phase-III). 4.5 In the second and final relinquishment, the Contractor shallshall retain only Producing Areas and Producible Areas and relinquish the balance Area held by it. 4.6 If during the Production Phase or before the expiry of the Contract, after any Discovery Areas or Development Areas in the opinion of the Contractor, the Field(s) has/have been designateddepleted or the production becomes uneconomical to produce, relinquish all the Contractor is required to surrender the area then held by it/them and such a surrender of the area by the Contractor will be deemed to be the determination of the Contract. On such a surrender, the Lease of the Contract Area not included within the said Discovery Areas or Development Areaswill be automatically cancelled. 4.4 As and when the Contract is terminated under the provisions of Article 3 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 4.7 Relinquishment of all or part of the Contract Area Area, or termination termination/determination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by or on behalf of the Contractor in respect of the Contract Area during the period between the Effective Date and prior to the date of such relinquishment relinquishment, surrender, termination or terminationdetermination. 4.6 4.8 Subject to Article 14.9Articles 14.9 and 21.3, the liability of the Contractor shall be limited to any liability undertaken or incurred by or on behalf of Contractor in respect of, of or relating to or connected with the Contract, and/or and / or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum CBM Operations during the period between the Effective Date and the date of relinquishment relinquishment, surrender of the Contract Area or termination or expiry of the Contract, as the case may be.

Relinquishment. 4.1 At If at the end of the Initial first Exploration PeriodPhase, the Contractor elects, pursuant to Article 3.4 to continue Exploration Operations in the Contract Area in the second Exploration Phase, the Contractor shall have the option to relinquish a part of Contract Area after completion in simple geometrical shape. In case, the Contractor exercises its option to relinquish a part of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain the Contract Area by committing to carry out drilling of one well per year in Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) shall be relinquished at the end of 7 or 8 consecutive yearsthe first Exploration Phase, as then such area to be relinquished shall not be less than twenty five percent (25%) of the case may beoriginal Contract Area and the Contractor shall be entitled to retain the balances area including any Development Area and Discovery Area in not more than three (3) areas of simple geometrical shapes. Notwithstanding the provision of this Article 4.1, of Exploration Periodthe Contractor shall be permitted to retain the Development Areas and Discovery Areas in accordance with Article 3.4. 4.2 At the end of the second Exploration PeriodPhase, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 If the Contractor exercises the option provided for in paragraph (b) of Article 3.4, the Contractor shall, after any Discovery Areas or Development Areas have been designated, relinquish all of the Contract Area not included within the said Discovery Areas or Development Areas. 4.4 As and when the Contract is terminated under the provisions of Article 3 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Date and the date of such relinquishment or termination. 4.6 4.7 Subject to Article 14.9, the liability of the Contractor shall be limited to any liability undertaken or incurred in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations during the period between the Effective Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may be.

Relinquishment. 4.1 At For the end purpose of the Initial Exploration Periodthis contract, the Contractor shall have option to relinquish Contract Area after completion of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain any relinquishment in the Contract Area by committing to carry out drilling shall be in integer multiples of one well per year an area of 1’x 1’ as specified in Contract Area the National Data Repository (NDR).However, in case the Contract area comprised of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) partial 1’x1’ grids, areas under such partial grids shall be relinquished at the end of 7 or 8 consecutive years, as the case may be, of Exploration Periodallowed to relinquish along with any other relinquishment. 4.2 At the end On expiry or termination of this Contract or relinquishment of part of the Exploration Period, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 If the Contractor exercises the option provided for in paragraph (b) Contract Area or decommissioning of Article 3.4Petroleum Operations, the Contractor shall: (a) subject to Article 25, after any Discovery Areas remove all equipment and installations from the relinquishment area or Development Areas have been designated, relinquish all of the former Contract Area not included within pursuant to an abandonment plan; and (b) perform all necessary Site Restoration activities in accordance with any specific guidelines, rules or regulations formulated by the said Discovery Areas Government in relation to Site Restoration and in the absence of any such specific guidelines, rules or Development Areasregulations, by Good International Petroleum Industry Practices (GIPIP) and take all other actions necessary to prevent hazards to human life or to the property of others or the environment. 4.4 4.3 As and when the Contract is terminated under the provisions of Article 3 28 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 4.4 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Commencement Date and the date of such relinquishment or termination. 4.6 4.5 Subject to Article 14.94.2, the liability of the Contractor shall be limited to any liability undertaken or incurred by or on behalf of the Contractor in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations and Relinquishments under this Article, during the period between the Effective Commencement Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may bemaybe.

Relinquishment. 4.1 At If at the end of the Initial first Exploration PeriodPhase, the Contractor elects, pursuant to Article 3.4 to continue Exploration Operations in the Contract Area in the second Exploration Phase, the Contractor shall have the option to relinquish a part of Contract Area after completion in simple geometrical shape. In case, the Contractor exercises its option to relinquish a part of Minimum Work Programme or proceed to the Subsequent Exploration Period and retain the Contract Area by committing in simple geometrical shape. In case, the Contractor excercises its option to carry out drilling relinquish a part of one well per year in the Contract Area (in case of onland and shallow water blocks)/one well in 3 years in contract Area (in case of deepwater blocks). The Contract Area (excluding Discovery and Development area) shall be relinquished area at the end of 7 or 8 consecutive yearsfirst Exploration Phase, as then such area to be relinquished shall not be less than twenty five percent (25%) of the case may beoriginal Contract Area and the Contractor shall be entitled to retain the balances area including any Development Area and Discovery Area in not more than three (3) areas of simple geometrical shapes. Notwithstanding the provision of this Article 4.1, of Exploration Periodthe Contractor shall be permitted to retain the Development Areas and Discovery Areas in accordance with Article 3.4. 4.2 At the end of the second Exploration PeriodPhase, the Contractor shall retain only Development Areas and Discovery Areas. 4.3 If the Contractor exercises the option provided for in paragraph (b) of Article 3.4, the Contractor shall, after any Discovery Areas or Development Areas have been designated, relinquish all of the Contract Area not included within the said Discovery Areas or Development Areas. 4.4 As and when the Contract is terminated under the provisions of Article 3 or in accordance with any other provisions of this Contract, the entire Contract Area remaining with the Contractor shall be deemed to have been relinquished by the Contractor as on the date on which the Contract is terminated. 4.5 Relinquishment of all or part of the Contract Area or termination of the Contract shall not be construed as absolving the Contractor of any liability undertaken or incurred by the Contractor in respect of the Contract Area during the period between the Effective Date and the date of such relinquishment or termination. 4.6 4.7 Subject to Article 14.9, the liability of the Contractor shall be limited to any liability undertaken or incurred in respect of, relating to or connected with the Contract, and/or any claim arising out of or in relation to the act of negligence, misconduct, commission or omission in carrying out Petroleum Operations during the period between the Effective Date and the date of relinquishment of the Contract Area or termination or expiry of the Contract, as the case may be.