Voluntary Relinquishments. The Concessionaire may, at any time during the Exploration Phase, voluntarily relinquish areas forming part of the Concession Area. Voluntary relinquishments shall be communicated in writing. Voluntary relinquishments shall not exempt the Concessionaire from the obligation to comply with the Minimum Exploration Program. Once the Exploration Phase is completed, the Concessionaire may only keep as Concession Area the Development Area.
Appears in 5 contracts
Samples: Concession Agreement for Exploration and Production of Oil and Gas, Concession Agreement for Exploration and Production of Oil and Gas, Concession Agreement for Exploration and Production of Oil and Gas
Voluntary Relinquishments. The Concessionaire may, at any time during the Exploration Phase, voluntarily relinquish areas forming part of the Concession Area. Voluntary relinquishments shall be communicated in writing. Voluntary relinquishments shall not exempt the Concessionaire from the obligation to comply with the Minimum Exploration Program. Once the Exploration Phase is completed, the Concessionaire may only keep the Development Area as Concession Area the Development Area.
Appears in 1 contract
Samples: Concession Agreement for Exploration and Production of Oil and Gas
