Submittal and Content Sample Clauses

Submittal and Content. THE CONTRACTOR will submit the initial Exploitation Plan to THE AXX within the three (3) months following the Declaration of Marketability discussed in Clause 8, which will include, at least, the following information: a) A map with the Exploitation Area coordinates; b) An estimate of the Hydrocarbon reserves and accumulated production, classified by types of Hydrocarbons; c) The general outline for the Development of the Commercial Field, which includes a description of the development well drilling program, of the extraction methods, of the respective facilities and of the processes to which the extracted fluids will be submitted before the Delivery Point. d) The annual production forecast for Hydrocarbons and their sensitivities, by using the optimal production rate that allows for maximum economic recovery of reserves. e) Identification of the critical factors for executing the Exploitation Plan, such as environmental, social, economic, and logistic aspects as well as the methods of dealing them. f) A proposed Delivery Point for consideration by THE AXX. g) A basket proposal of maximum three (3) crude oils of a similar quality in order to calculate the Fees for High Prices described in Clause 16. h) An abandonment program for purposes of Clause 31.