Contract Area definition

Contract Area means, on the Effective Date, the area described in Appendix-A and delineated on the map attached as Appendix B or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract (including any additional area as provided under Article 11.3).

Contract Area means the geographic maintenance area as negotiated between the Employer and the Province of BC.

Contract Area means the surface area described in Annex 1, including the geological formations contained in the vertical projection of such surface to the depth indicated in Annex 1, in which the Contractor is authorized and obligated to conduct Petroleum Activities pursuant to this Contract, it being understood that: (i) this Contract does not grant the Contractor any real property rights to the Contract Area or to natural resources in its subsurface, and (ii) the Contract Area shall be reduced in accordance with the terms of this Contract.

Examples of Contract Area in a sentence

• The Contractor shall be entitled to recover the Petroleum Costs incurred and paid by the Contractor pursuant to the provisions of the Agreement and duly entered in the Contractor's books of accounts, by taking and separately disposing of an amount equal in value to a maximum of [70%] of Crude Oil and [80%] of Natural Gas produced from the Contract Area during that Fiscal Year and not used in Petroleum Operations after the payment of all royalties due to the government.

• All costs or expenses of litigation or legal services otherwise necessary or expedient for the protection of the Joint Property or other interest in the Contract Area, including but not limited to legal counsel's salaries and fees, court costs and cost of investigation or procuring evidence.

• The Contractor is, subject to the provisions of the Agreement, authorised to conduct the Exploration within the Contract Area during the Exploration Period.

• The Contractor is, subject to the provisions of the Agreement, authorised to conduct the Production within the Contract Area during the Development and Production Period.

• C The Federal Government wishes to promote and support the Exploration and Development of Petroleum throughout the Contract Area [and for that has run a tender process [insert details], with the Contractor having been selected (pursuant to a decision [insert details]) as the best bidder].

More Definitions of Contract Area

Contract Area means the area that is the subject of a Petroleum Agreement and, if any part of a Contract Area is relinquished pursuant to a Petroleum Agreement, the Contract Area is the Contract Area as originally granted;

Contract Area means all lands and oil and gas interests intended to be developed and operated for oil and gas purposes under this agreement. Such lands and oil and gas interests are described in Exhibit "A".

Contract Area means the area specified in Annexes A and B, but not any part of it which has been relinquished under Article 3; “Contract Year” means a period commencing on the Effective Date, or on any anniversary of it, and ending immediately before the next anniversary of it;

Contract Area means that part of the Area allocated to the Contractor for Exploitation, defined by the coordinates listed in schedule 1 hereto.

Contract Area means Block L27 the geographic area covered by this Contract, and described in Appendix "A" and any part thereof not previously surrendered;

Contract Area means on the Effective Date the area described in Annex A and shown on the map in Annex B, and thereafter the whole or any part of such area in respect of which Contractor Group continues to have rights and obligations under this Agreement.

Contract Area means that part of the Original Contract Area or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract and shall include any additional area granted as per the provisions of Article-11.2, for which Contractor has valid License(s)/Lease(s) at any point during the currency of the Contract.