Seismic Reprocessing Clause Samples
The Seismic Reprocessing clause defines the rights and obligations related to the reprocessing of previously acquired seismic data. Typically, this clause outlines the conditions under which a party may reprocess existing seismic surveys, such as obtaining necessary approvals, sharing results, or bearing associated costs. For example, it may specify whether the reprocessed data must be shared with other stakeholders or if the original data owner retains exclusive rights. The core function of this clause is to clarify the procedures and responsibilities for updating and improving seismic data, thereby reducing disputes and ensuring efficient use of valuable geophysical information.
Seismic Reprocessing process to submit seismic data to new processing, aiming at gaining quality in the results achieved.
Seismic Reprocessing. Subject to Century’s approval, the Participants shall cause the 3D Data described above to be reprocessed (if same has not already been reprocessed) at a reasonable cost and on a reasonable schedule, consistent with the recommendations of TechXplore. The extent of expenditures in respect thereof shall be subject to the availability of capital as determined by Century. From time to time, as the reprocessing by third party contractors is completed, the reprocessed 3D Data shall be delivered to Century and/or TechXplore for calibration and interpretation in a manner to be agreed to by the Participants.