Common use of Work Programmes and Budgets Clause in Contracts

Work Programmes and Budgets. 9.1 No later than ninety (90) days prior to the beginning of each Calendar Year, and, for the first Calendar Year, no later than thirty (30) days after the Effective Date, the Contractor shall prepare and submit for approval by the Minister a detailed itemized annual Work Programme, along with the corresponding annual Budget for the Contract Area, setting forth the Hydrocarbons Operations the Contractor proposes to carry out during the ensuing Calendar Year and the budgeted cost of each identified component of such Hydrocarbons Operations. 9.2 Each annual Work Programme and corresponding annual Budget shall be broken down into the various Exploration Operations and, as the case may be, the Appraisal with respect to each Appraisal Area, and the Development and Production Operations with respect to each Exploitation Area. 9.3 The Minister may propose amendments or modifications to the annual Work Programme and corresponding annual Budget by notice to the Contractor, including all justifications deemed necessary, within ninety (90) days, or in respect of the first Calendar Year, within forty five (45) days, following receipt of said Work Programme. In such a case, the Minister and the Contractor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement the annual Work Programme and corresponding annual Budget in final form, in accordance with Good International Petroleum Industry Practice. The date of approval of the annual Work Programme and corresponding annual Budget shall be the date of the above-mentioned mutual agreement. 9.4 Failing notice by the Minister to the Contractor of his wish to amend or modify the annual Work Programme and corresponding annual Budget within the period specified in Article 9.3, said Work Programme and Budget shall be deemed approved by the Minister upon the expiry date of said period. 9.5 The Contractor may not spend more than one hundred and ten percent (110%) of the amount originally allocated to any line item in an approved annual Work Programme Budget, or more than one hundred and five percent (105%) of the total amount set forth in an approved annual Work Programme Budget, without an appropriate amendment to the approved annual Work Programme and the related Budget, unless the increased expenditure: (i) is required to respond to health, safety or environmental protection concerns or to mitigate the adverse effects of a force majeure event; or (ii) is in performance of an approved item in the annual Work Programme and is caused by circumstances reasonably beyond the Contractor’s control; or (iii) is otherwise approved by the Minister. In respect of any increased expenditure which is not justified by any of the circumstances provided in clauses (i) and (ii), the Minister may after giving the Contractor an opportunity to be heard determine that all or some portion of the excess expenditure is not a recoverable Hydrocarbons Cost. 9.6 Whenever the Contractor desires to make changes to an approved (or deemed approved) annual Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it shall submit the proposed changes and their justification to the Minister. If the Minister fails to object to the proposed changes within twenty-one (21) days, the changes shall be deemed approved by the Minister.

Work Programmes and Budgets. 9.1 No later than ninety (90) days prior to the beginning of each Calendar Year, and, for the first Calendar Year, no later than thirty (30) days after the Effective Date, the Contractor shall prepare and submit for approval by the Minister a detailed itemized annual Work Programme, along with the corresponding annual Budget for the Contract Area, setting forth the Hydrocarbons Operations the Contractor proposes to carry out during the ensuing Calendar Year and the budgeted cost of each identified component of such Hydrocarbons OperationsOperations . 9.2 Each annual Work Programme and corresponding annual Budget shall be broken down into the various Exploration Operations and, as the case may be, the Appraisal with respect to each Appraisal Area, and the Development and Production Operations with respect to each Exploitation Area. 9.3 The Minister may propose amendments or modifications to the annual Work Programme and corresponding annual Budget by notice to the Contractor, including all justifications deemed necessary, within ninety (90) days, or in respect of the first Calendar Year, within forty five (45) days, following receipt of said Work Programme. In such a case, the Minister and the Contractor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement the annual Work Programme and corresponding annual Budget in final form, in accordance with Good International Petroleum Industry Practice. The date of approval of the annual Work Programme and corresponding annual Budget shall be the date of the above-mentioned mutual agreement. 9.4 Failing notice by the Minister to the Contractor of his wish to amend or modify the annual Work Programme and corresponding annual Budget within the period specified in Article 9.3, said Work Programme and Budget shall be deemed approved by the Minister upon the expiry date of said period. 9.5 The Contractor may not spend more than one hundred and ten percent (110%) of the amount originally allocated to any line item in an approved annual Work Programme Budget, or more than one hundred and five percent (105%) of the total amount set forth in an approved annual Work Programme Budget, without an appropriate amendment to the approved annual Work Programme and the related Budget, unless the increased expenditure: expenditure (i) is required to respond to health, safety or environmental protection concerns or to mitigate the adverse effects of a force majeure event; or , or (ii) is in performance of an approved item in the annual Work Programme and is caused by circumstances reasonably beyond the Contractor’s control; or , or (iii) is otherwise approved by the Minister. In respect of any increased expenditure which is not justified by any of the circumstances provided in clauses clauses (i) and (ii), the Minister may after giving the Contractor an opportunity to be heard determine that all or some portion of the excess expenditure is not a recoverable Hydrocarbons Cost. 9.6 Whenever the Contractor desires to make changes to an approved (or deemed approved) annual Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it shall submit the proposed changes and their justification to the Minister. If the Minister fails to object to the proposed changes within twenty-twenty one (21) days, the changes shall be deemed approved by the Minister.

Work Programmes and Budgets. 9.1 No later than 11.1 So long as the Exploration Licence and any Production Licences issued to Contractor hereunder remain in force, at least ninety (90) days prior to the beginning of each Calendar Year, andContractor shall prepare and submit to the Management Committee for its review and approval, for pursuant to Article 9, a detailed annual Work Programme and Budget, setting forth the first Petroleum Operations which Contractor proposes to carry out in the ensuing Calendar Year, no later than and the estimated costs thereof. The first annual Work Programme and Budget in relation to the period from the Effective Date to the end of the relevant Calendar Year shall be submitted to the Management Committee within thirty (30) days after the Effective Date; provided however that, in the event the Effective Date falls in the second semester of such Calendar Year, the Contractor first Work Programme and Budget shall prepare cover the period from the Effective Date to the end of the next succeeding Calendar Year. 11.2 Every Work Programme and submit for approval by Budget submitted to the Minister a detailed itemized annual Work Programme, along Management Committee during the Exploration Period pursuant to this Article and every revision or amendment thereof shall be consistent with the corresponding annual Budget requirements set out in Article 4 relating to the Minimum Work Programmes and Expenditures for the Contract Area, setting forth Exploration Period within which the Hydrocarbons Operations the Contractor proposes to carry out during the ensuing Calendar Year Work Programme and the budgeted cost of each identified component of such Hydrocarbons OperationsBudget will fall. 9.2 11.3 Each proposed annual Work Programme and corresponding annual Budget shall be broken down into the various Exploration Operations andinclude, as the case may bea minimum, the Appraisal with respect following: (a) a detailed description of the work to each Appraisal Areabe performed during the following Calendar Year, proposals as to subcontractors and suppliers necessary for the Development implementation of such work and Production Operations with respect a time schedule for performing it; and (b) a detailed estimate of the expenditure to each Exploitation Area. 9.3 The Minister may propose amendments or modifications to be incurred in performing the proposed annual Work Programme and corresponding annual Budget by notice to a time schedule for the Contractor, including all justifications deemed necessary, within ninety incurrence of such expenditures. 11.4 Within thirty (9030) days, or in respect days of submission of the first Calendar Year, within forty five (45) days, following receipt of said Work Programme. In such a case, the Minister and the Contractor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement the proposed annual Work Programme and corresponding Budget, the Management Committee shall meet to review and approve it pursuant to the provisions of paragraph 9.4. 11.5 By giving notice in that respect to the Management Committee, Contractor may propose amendments to approved annual Budget in final formWork Programmes and/or Budgets, provided such amendments are consistent with Contractor’s Minimum Exploration Work and Expenditures obligations under Article 4. Any notice given pursuant to this paragraph shall state the reasons why, in accordance with Good International Petroleum Industry Practicethe opinion of the Contractor, an amendment is necessary or desirable. The date Within thirty (30) days of approval submission of any such amendments, the Management Committee shall meet to review and approve it pursuant to the provisions of paragraph 9.4. 11.6 Contractor shall conduct quarterly reviews of the annual Work Programme and corresponding annual Budget shall be Budget. To the date extent that excess expenditures incurred by Contractor in respect of the above-mentioned mutual agreement. 9.4 Failing notice by the Minister to the Contractor of his wish to amend or modify the annual Work Programme and corresponding annual Budget within the period specified in Article 9.3, said Work Programme and Budget shall be deemed approved by the Minister upon the expiry date of said period. 9.5 The Contractor may not spend more than one hundred and ten percent (110%) of the amount originally allocated to any line item in an approved annual Work Programme Budget, or more than one hundred and five Budget are limited to ten percent (10510%) of the total budgeted amount set forth in an approved annual Work Programme Budgetrelating to each such item, without an appropriate amendment and provided that such excess expenditures do not cause the overall Budget to exceed by five percent (5%) the approved annual Work Programme and the related Budget, unless such excess expenditures will be allowable Contract Expenses for the increased expenditure: (i) is required to respond to health, safety or environmental protection concerns or to mitigate the adverse effects purposes of a force majeure event; or (ii) is in performance of an approved item in the annual Work Programme and is caused by circumstances reasonably beyond the Contractor’s control; or (iii) is otherwise approved by the Minister. In respect of any increased expenditure which is not justified by any of the circumstances provided in clauses (i) and (ii), the Minister may after giving the Contractor an opportunity to be heard determine that all or some portion of the excess expenditure is not a recoverable Hydrocarbons Cost. 9.6 Whenever the Contractor desires to make changes to an approved (or deemed approved) annual Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it shall submit the proposed changes and their justification to the Minister. If the Minister fails to object to the proposed changes within twenty-one (21) days, the changes shall be deemed approved by the Minister.Article

Work Programmes and Budgets. 9.1 No later than ninety (90) days prior 6.1 On or before the 30th day of November of each Year Operator shall submit to the beginning of each Calendar Year, and, for the first Calendar Year, no later than thirty (30) days after the Effective Date, the Contractor shall prepare Parties a proposed Work Programme and submit for approval by the Minister a detailed itemized annual Work Programme, along with the corresponding annual Budget for the Contract Area, setting forth Area for the Hydrocarbons Operations the Contractor proposes to carry out during the ensuing Calendar Year and the budgeted cost of each identified component of such Hydrocarbons Operations. 9.2 Each annual Work Programme and corresponding annual Budget shall be broken down into the various Exploration Operations and, as the case may be, the Appraisal with respect to each Appraisal Area, and the Development and Production Operations with respect to each Exploitation Area. 9.3 The Minister may propose amendments or modifications to the annual Work Programme and corresponding annual Budget by notice to the Contractor, including all justifications deemed necessary, within ninety (90) days, or in respect of the first Calendar subsequent Year, within forty five (45) days, following receipt of said Work Programme. In such a case, the Minister and the Contractor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement the annual Work Programme and corresponding annual Budget in final form, in accordance with Good International Petroleum Industry Practice. The date of approval of the annual Work Programme and corresponding annual Budget shall be the date of the above-mentioned mutual agreement. 9.4 Failing notice by the Minister to the Contractor of his wish to amend or modify the annual Work Programme and corresponding annual Budget within the period specified in Article 9.3, said which Work Programme and Budget shall include as a minimum the work and expenditure required to be deemed approved performed or incurred during such Year. At the same time as that Year's Work Programme and Budget are submitted, a provisional Work Programme for the next succeeding Year shall be presented by the Minister upon Operator. Operator shall submit to the expiry date Parties a proposed Work Programme and Budget as soon as possible after the execution of said periodthis Agreement for the remainder of the Year in which this Agreement is executed. 9.5 The Contractor may 6.2 On or before the 31st day of December of each Year, the Operating Committee shall agree upon and adopt a Work Programme and Budget for the subsequent Year which shall include as a minimum the work and expenditure required to be performed or incurred under the Contract during such Year. At the time of agreeing upon and adopting a Work Programme and Budget, the Operating Committee shall provisionally consider, but not spend act upon or adopt, a Work Programme for the next succeeding Year. As soon as possible after the adoption of a Work Programme and Budget, Operator shall provide a copy thereof to each Party. 6.3 Each Budget shall be subdivided into two major functional categories, i.e. exploration/ appraisal versus development & production, and within each of those by sub-categories further broken down by programmed activity and individual projects. Purchases of materials and supply inventory not specifically made for an Approved Budget project shall be budgeted as a separate item. Each individual project costing more than one hundred thousand United States Dollars (U.S. $100,000) per program shall be either labeled as "Firm" or "To Mature" depending upon the degree of complete details furnished at the time of budget presentation. 6.4 For a project to be considered "Firm" within the Budget, it will require program description, objectives, cost estimates and ten percent (110%) economic justification sufficiently complete and in such detail as to allow thorough evaluation of the amount originally allocated project. 6.5 Projects that do not meet this presentation standard at the time of Budget formulation may also be included in the Budget to any line item receive approval in an approved annual Work Programme Budgetprinciple, or more than one hundred and five percent (105%) shall be labeled as "To Mature". Such projects must be subsequently fully justified to the Operating Committee and receive its specific approval prior to the physical commencement of the total amount set forth in an approved annual Work Programme Budget, without an appropriate amendment project. 6.6 Operator shall submit to the approved annual Work Programme parties holding a Participating Interest (except if such interest is being carried by another party) for prior approval Authorization For Expenditure Requests ("AFEs") covering each individual project within the Approved Budget in the following categories and shall obtain approval prior to undertaking the related Budget, unless the increased expenditurefollowing projects: (a) Licenses - any initial cash payment for a license. 6.6.1 (b) Exploration - quarterly projects for geological and geophysical work, core drilling and concession rentals after any initial payment, and overhead charges applicable to geological and geophysical operations. Under special circumstances Operator shall obtain separate approval for major geological or geophysical projects, which are in themselves in excess of one hundred thousand United States Dollars (U.S. $100,000). 6.6.1 (c) Drilling: i) is required to respond to health, safety or environmental protection concerns or to mitigate the adverse effects of a force majeure event; orEach Exploration and (ii) is in performance of an approved item in the annual Work Programme and is caused by circumstances reasonably beyond the Contractor’s control; ordelineation Well. (iii) is otherwise approved by the Minister. In respect Deepening of any increased expenditure which is not justified by any of the circumstances provided in clauses (i) and (ii)Well below original target depth, the Minister may after giving the Contractor an opportunity to be heard determine that all or some portion of the excess expenditure is not a recoverable Hydrocarbons Costinvolving exploratory footage. 9.6 Whenever the Contractor desires iv) Workovers in excess of two hundred thousand United States Dollars (U.S. $200,000) for any Well, including deepening in to make changes to an approved (or deemed approved) annual Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it shall submit the proposed changes and their justification to the Minister. If the Minister fails to object to the proposed changes within twenty-one (21) days, the changes shall be deemed approved by the Ministerdevelopment zones.

Work Programmes and Budgets. 9.1 No later than ninety (90) days prior 6.1 So long as any Exploration Licence or Production Licence issued to the beginning of each Calendar YearLicensee herein remains in force, and, for the first Calendar Year, no later than within thirty (30) days after from the Effective Date, the Contractor Licensee shall prepare and submit to the Advisory Committee for approval by the Minister its review and, where required pursuant to Article 5, approval, a detailed itemized annual Work Programme, along with the corresponding annual Budget for the Contract AreaProgramme and Budget, setting forth the Hydrocarbons Exploration Operations the Contractor and/or Development Operations which Licensee proposes to carry out during the ensuing Calendar Year licence period and the budgeted estimated cost of each identified component of such Hydrocarbons Operations. 9.2 Each annual Work Programme and corresponding annual Budget shall be broken down into the various Exploration Operations and, as the case may be, the Appraisal with respect to each Appraisal Area, and the Development and Production Operations with respect to each Exploitation Area. 9.3 The Minister may propose amendments or modifications to the annual Work Programme and corresponding annual Budget by notice to the Contractor, including all justifications deemed necessary, within ninety (90) days, or in respect of the first Calendar Year, within forty five (45) days, following receipt of said Work Programme. In such a case, the Minister and the Contractor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement the annual Work Programme and corresponding annual Budget in final form, in accordance with Good International Petroleum Industry Practicethereof. The date of approval of the annual Work Programme and corresponding annual Budget shall be the date of the above-mentioned mutual agreement. 9.4 Failing notice by the Minister to the Contractor of his wish to amend or modify the annual Work Programme and corresponding annual Budget within the period specified in Article 9.3, said Work Programme and Budget for the period from the date of effectiveness of the Exploration Licence to the end of the said licence shall be deemed approved by presented to the Minister upon Advisory Committee within thirty (30) days of the expiry date of said periodEffective Date for review in accordance with paragraph 5.3.1. 9.5 The Contractor may not spend more than one hundred and ten percent (110%) of the amount originally allocated to any line item in an approved annual Work Programme Budget, or more than one hundred and five percent (105%) of the total amount set forth in an approved annual Work Programme Budget, without an appropriate amendment to the approved annual 6.2 A Work Programme and Budget submitted to the related Budget, unless Advisory Committee during the increased expenditure: (i) is required Exploration Period pursuant to respond this Article and every revision or amendment thereof shall be consistent with the requirements set out in Article 4 relating to health, safety or environmental protection concerns or to mitigate minimum work and expenditure for the adverse effects of a force majeure event; or (ii) is in performance of an approved item in Exploration Period within which the annual Work Programme and Budget will fall. 6.3 After giving notice to the Advisory Committee, Licensee may amend any aspect of the Work Programme or Budget relating to Exploration Operations submitted to the Advisory Committee provided such amendment is caused consistent with Licensee’s obligations under Article 4. Any notice given pursuant to this paragraph shall state the reasons why, in the opinion of Licensee, an amendment is necessary or desirable and the views and recommendations of the Advisory Committee with respect to any such amendment shall be given due consideration by circumstances reasonably beyond the Contractor’s control; or (iii) is otherwise approved by the MinisterLicensee. In respect of any increased expenditure which is not justified by any of all other cases where Licensee wishes to amend the circumstances provided in clauses (i) Work Programme and (ii)Budget, the Minister amendment shall be referred to the Advisory Committee for its review and approval, which approval shall not be unreasonably withheld, before Licensee may after giving proceed with its operations on the Contractor an opportunity to be heard determine that all or some portion basis of the excess expenditure is not a recoverable Hydrocarbons Cost. 9.6 Whenever the Contractor desires to make changes to an approved (or deemed approved) annual such amended Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it shall submit the proposed changes and their justification to the Minister. If the Minister fails to object to the proposed changes within twenty-one (21) days, the changes shall be deemed approved by the MinisterBudget.

Work Programmes and Budgets. 9.1 4.1.1 No later than ninety (90) days prior to the beginning of each Calendar Year, and, and for the first Calendar Year, no later than thirty one (301) days month after the Effective Date, the Contractor Investor shall prepare and submit for approval to the Agency a detailing by the Minister a detailed Quarters itemized annual Work Programme, along with the corresponding annual Programme and Budget for the Contract Agreement Area, setting forth the Hydrocarbons Petroleum Operations the Contractor Investor proposes to carry out during the ensuing Calendar Year Year. Where appropriate, the annual Work Programme and Budget shall be aligned with Minimum Work Obligations and Mining plans. The Agency gives approval by written opinion on the budgeted cost of each identified component of such Hydrocarbons Operationsannual Work Programme and Budget. 9.2 4.1.2 Each annual Work Programme and the corresponding annual Budget shall be broken down divided into the various Exploration Operations and, as the case may be, the Appraisal with respect to each Appraisal Area, and the Development and Production Operations with respect to each Exploitation AreaField. The Work Programme(s) submitted by the Investor for each Calendar Year shall be accompanied by an indicative schedule of operations to be conducted in the coming year. 9.3 4.1.3 The Minister Agency may propose amendments or modifications to the annual Work Programme and corresponding annual Budget by notice to the ContractorInvestor, including all justifications deemed necessary, within ninety thirty (9030) days, or in respect of the first Calendar Year, within forty five (45) days, days following receipt of said Work Programme. In such a case, the Minister Agency and the Contractor Investor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement Agreement the annual Work Programme and corresponding annual Budget in final form, in accordance with International Good International Petroleum Industry Oilfield Practice. The date of approval of the favourable opinion on the annual Work Programme and the corresponding annual Budget shall be the date of the above-mentioned mutual agreementAgreement. If the Agency and the Investor do not reach an Agreement regarding the amendments or modifications proposed by the Agency before the end of the Calendar Year in which the annual Work Programme and corresponding annual Budget were submitted, the Investor shall be allowed to proceed under its proposed annual Work Programme and Budget to the minimum extent necessary to complete its Minimum Work Obligations specified in Article 5 or to ensure safe operations. 9.4 4.1.4 Failing notice by the Minister Agency to the Contractor Investor of his wish the need to amend or modify the annual Work Programme and corresponding annual Budget within the abovementioned period specified in Article 9.3of thirty (30) days, said Work Programme and Budget shall be deemed approved by the Minister Agency by its favourable opinion upon the expiry date of said period. 9.5 The Contractor 4.1.5 It is acknowledged by the Agency and the Investor that the results acquired as the work progresses or certain changes in circumstances may not spend more than one hundred and ten percent (110%) of justify modifications to the amount originally allocated to any line item in an approved annual Work Programme BudgetProgramme, or more than one hundred and five percent (105%) of the total amount set forth in an approved annual Work Programme Budgetaccordance with International Good Oilfield Practice. 4.1.6 In that case, without an appropriate amendment after notification to the approved annual Work Programme and Agency, the related Budget, unless Investor may make such modifications provided the increased expenditure: (i) is required to respond to health, safety or environmental protection concerns or to mitigate the adverse effects basic objectives of a force majeure event; or (ii) is in performance of an approved item in the annual Work Programme are not modified and that those modifications are in accordance with the Petroleum Plans. 4.1.7 In any case, the costs incurred for purposes of such modifications shall not be higher than initial Annual Budget for which the Agency issued a favourable opinion by more than five percent (5 %) or ten percent (10 %) for any individual item within the initial Annual Budget, without its written consent, which shall not be unreasonably withheld. Such consent shall be given within maximum fifteen (15) days from the date the modification is caused by circumstances reasonably beyond submitted for consideration. 4.1.8 The Investor shall, within thirty (30) days after the Contractor’s control; or (iii) is otherwise end of each calendar Quarter, deliver to the Agency a status report on the conducted operations and incurred costs under the approved by Work Programme and Budget during the Ministercalendar Quarter in question. In respect of The status report shall forecast any increased expenditure which is not justified by any significant changes to such approved Work Programme and Budget that Investor anticipates may be necessary during the balance of the circumstances provided Calendar Year. The report for the final Quarter of each Calendar Year shall also include a year-end summary of operations and costs during the Calendar Year in clauses (i) and (ii)question. 4.1.9 In case of emergency, the Minister Investor may after giving the Contractor an opportunity to be heard determine that all or some portion of the excess expenditure is not a recoverable Hydrocarbons Cost. 9.6 Whenever the Contractor desires to make changes to an approved (or deemed approved) annual Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it incur costs necessary for prudent Petroleum Operations. The Investor shall submit the proposed changes and their justification report such costs to the Minister. If the Minister fails to object to the proposed changes within twenty-one (21) days, the changes shall be deemed approved by the MinisterAgency in accordance with Article 4.1.

Work Programmes and Budgets. 9.1 No later than ninety (90) days prior 6.1 So long as any Exploration Licence or Production Licence issued to the beginning of each Calendar YearLicensee herein remains in force, and, for the first Calendar Year, no later than within thirty (30) days after from the Effective DateDate , the Contractor Licensee shall prepare and submit to the Advisory Committee for approval by the Minister its review and, where required pursuant to Article 5, approval, a detailed itemized annual Work Programme, along with the corresponding annual Budget for the Contract AreaProgramme and Budget, setting forth the Hydrocarbons Exploration Operations the Contractor and/or Development Operations which Licensee proposes to carry out during the ensuing Calendar Year licence period and the budgeted estimated cost of each identified component of such Hydrocarbons Operations. 9.2 Each annual Work Programme and corresponding annual Budget shall be broken down into the various Exploration Operations and, as the case may be, the Appraisal with respect to each Appraisal Area, and the Development and Production Operations with respect to each Exploitation Area. 9.3 The Minister may propose amendments or modifications to the annual Work Programme and corresponding annual Budget by notice to the Contractor, including all justifications deemed necessary, within ninety (90) days, or in respect of the first Calendar Year, within forty five (45) days, following receipt of said Work Programme. In such a case, the Minister and the Contractor shall meet as soon as possible to review the requested amendments or modifications and establish by mutual agreement the annual Work Programme and corresponding annual Budget in final form, in accordance with Good International Petroleum Industry Practicethereof. The date of approval of the annual Work Programme and corresponding annual Budget shall be the date of the above-mentioned mutual agreement. 9.4 Failing notice by the Minister to the Contractor of his wish to amend or modify the annual Work Programme and corresponding annual Budget within the period specified in Article 9.3, said Work Programme and Budget for the period from the date of effectiveness of the Exploration Licence to the end of the said licence shall be deemed approved by presented to the Minister upon Advisory Committee within thirty (30) days of the expiry date of said periodEffective Date for review in accordance with paragraph 5.3.1. 9.5 The Contractor may not spend more than one hundred and ten percent (110%) of the amount originally allocated to any line item in an approved annual Work Programme Budget, or more than one hundred and five percent (105%) of the total amount set forth in an approved annual Work Programme Budget, without an appropriate amendment to the approved annual 6.2 A Work Programme and Budget submitted to the related Budget, unless Advisory Committee during the increased expenditure: (i) is required Exploration Period pursuant to respond this Article and every revision or amendment thereof shall be consistent with the requirements set out in Article 4 relating to health, safety or environmental protection concerns or to mitigate minimum work and expenditure for the adverse effects of a force majeure event; or (ii) is in performance of an approved item in Exploration Period within which the annual Work Programme and Budget will fall. 6.3 After giving notice to the Advisory Committee, Licensee may amend any aspect of the Work Programme or Budget relating to Exploration Operations submitted to the Advisory Committee provided such amendment is caused consistent with Licensee’s obligations under Article 4. Any notice given pursuant to this paragraph shall state the reasons why, in the opinion of Licensee, an amendment is necessary or desirable and the views and recommendations of the Advisory Committee with respect to any such amendment shall be given due consideration by circumstances reasonably beyond the Contractor’s control; or (iii) is otherwise approved by the MinisterLicensee. In respect of any increased expenditure which is not justified by any of all other cases where Licensee wishes to amend the circumstances provided in clauses (i) Work Programme and (ii)Budget, the Minister amendment shall be referred to the Advisory Committee for its review and approval, which approval shall not be unreasonably withheld, before Licensee may after giving proceed with its operations on the Contractor an opportunity to be heard determine that all or some portion basis of the excess expenditure is not a recoverable Hydrocarbons Cost. 9.6 Whenever the Contractor desires to make changes to an approved (or deemed approved) annual such amended Work Programme and/or the related Budget not permitted under clause (i) or (ii) of Article 9.5, it shall submit the proposed changes and their justification to the Minister. If the Minister fails to object to the proposed changes within twenty-one (21) days, the changes shall be deemed approved by the MinisterBudget.