Common use of SOLE RISK OPERATIONS Clause in Contracts

SOLE RISK OPERATIONS. 1. Any party may undertake petroleum operations at sole risk (hereinafter referred to as "sole risk project") in a participation area, subject to the provisions of this Article.

SOLE RISK OPERATIONS. 1. 11.1 Any party Party may undertake petroleum operations Petroleum Operations at its sole risk (in the Participation Area, in accordance with the provisions of this Article. Such sole-risk Petroleum Operations, which include not only Drilling and the construction phase of the project but also operations connected with sole-risk facilities, are hereinafter referred to as "sole risk projectSole-Risk Projects") in a participation area, subject to the provisions of this Article.