Third Exploration Period Sample Clauses

Third Exploration Period. Commencing on the day on which the Petroleum Exploration Licence is renewed for the second time pursuant to the Act and Article 3 hereof and terminating on the [second anniversary] of such date. (a) Minimum Work Programme [Biddable item]: [Acquisition, processing and interpretation of additional XXX line kilometres of 2D seismic data], [Acquisition, processing and interpretation of additional XXX square kilometres of 3D seismic data], [Drilling of XXX Exploration ▇▇▇▇▇ whose locations and depths Government and Licensee shall agree on]. (b) Minimum Exploration Expenditure USD million [Biddable item] [2D Seismic data USD] -- [3D Seismic data USD]-- [Drilling of ▇▇▇▇▇ USD]-