Work Program in Development Period Sample Clauses
The 'Work Program in Development Period' clause defines the obligations and activities that a party must undertake during the development phase of a project or agreement. Typically, this clause outlines the specific tasks, milestones, and timelines that must be met, such as submitting detailed plans, securing permits, or commencing construction. By clearly setting out these requirements, the clause ensures that both parties have a mutual understanding of what is expected during the development period, thereby reducing the risk of disputes and keeping the project on track.
Work Program in Development Period. The first Work Program for each Development Period shall be submitted along with the Development Plan and shall include the Petroleum Activities to be conducted during the rest of the Contract Year in which a Commercial Discovery is declared and the Petroleum Activities to be carried out during the rest of the Year in which such Contract Year ends. The Contractor shall submit the Work Program for each subsequent Year, or its update, no later than September 30 of the immediately preceding Year. All Work Programs submitted in the Development Period shall contain a monthly production estimate for the applicable Year, as well as a forecast of the total production of the Commercial Discovery throughout the full term of the Contract.