WORK PROGRAM AND EXPENDITURES. 4.1 CONTRACTOR shall commence Petroleum Operations hereunder not later than ninety (90) calendar days after the Effective Date.
WORK PROGRAM AND EXPENDITURES. 4.1. The contract operator shall commence petroleum operations not later than six (6) months after the effective date.
WORK PROGRAM AND EXPENDITURES. 4.1 The contract operator shall continue with petroleum activities being carried out on the effective date. The Designated Authority and the contract operator shall agree to an exploration work program and expenditures for each contract year.
WORK PROGRAM AND EXPENDITURES. (a) CONTRACTOR shall commence the Exploration and Development operations hereunder through the Operating Company not later than six (6) months after the Effective Date unless otherwise agreed upon by EGPC.
WORK PROGRAM AND EXPENDITURES. 4.1. The Parties shall Commence Petroleum Operations hereunder not later than six (6) months after the Effective Date.
WORK PROGRAM AND EXPENDITURES. The contract operator shall commence petroleum operations not later than six (6) months after the effective date. The amount of exploration work to be undertaken by the contract operator pursuant to the terms of this contract during the first six (6) years following the effective date shall, subject to any negotiated change to the exploration work program and expenditures for contract years four (4) to six (6), be at least that specified for each of these six (6) years as follows: 9 Data Review Seismic Surveys Xxxxx Expenditure US$ Kms No. US$ First Contract Year Second Contract Year Third Contract Year Fourth Contract Year Fifth Contract Year Sixth Contract Year If the contract is still in force after the sixth contract year, the Joint Authority and the contract operator shall agree to an exploration work program and expenditures for those subsequent contract years. The Joint Authority and the contract operator may negotiate a change to the exploration work program and expenditures covering contract years four (4) to ten (10), provided the changes are made at least three (3) months prior to the beginning of the contract year affected by the changes. No changes will be made to the exploration work program and expenditures for contract years one (1) to three (3). If during: the first three (3) contract years the contract operator completes less than the amount of exploration work required to be completed during those years, the Joint Authority shall terminate the contract; any of the contract years four (4) to ten (10) the contract operator completes less than the amount of exploration work required within that year, the Joint Authority may terminate the contract and, if the contract is not terminated, the Joint Authority shall require the completion of that work in the following contract year; or any contract year the contract operator completes more than the amount of exploration work required to be completed by the end of that year, the excess shall be counted towards meeting the exploration work obligations of the contract operator during succeeding contract years. For the purpose of subsection 5 of this Section, the Joint Authority, in determining whether the contract operator has completed the exploration work required to be completed in the first three (3) contract years, and in later contract years if work commitments are specified, shall have regard to the actual physical work completed, and not the estimates of expenditure. Where work commitments ...
WORK PROGRAM AND EXPENDITURES. 4.1 The OPERATOR, within one (1) year from the award of the Contract shall secure a Certificate of Non-Coverage from the DENR and Certification Precondition (for Exploration Phase) from the NCIP.
