Development and Production Area definition

Development and Production Area means an area within the Contract Area encompassing the geographical extent of a Commercial Discovery subject to a Development and Production Plan in accordance with Article ‎5.5.

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Development and Production Area means that portion of the Contract Area reasonably determined by Contractor (or by GNPC if a Sole Risk Operation pursuant to Article 9) on the basis of the available seismic and well data to cover the areal extent of an accumulation of Petroleum constituting a Commercial Discovery, enlarged in area by ten percent (10%), such enlargement to extend uniformly around the perimeter of such accumulation; and further enlarged by the area covering any extension of the accumulation which is revealed by further development work provided such extension is within the Contract Area;

Development and Production Area means that part of the Contract Area containing a Commercial Field, as defined in the Development Plan pursuant to Sub-article 9.5.

Examples of Development and Production Area in a sentence

Each Annual Work Program and corresponding Annual Budget shall be broken down into the various Exploration Operations and, as applicable, the Appraisal operations for each Appraisal Area and the Development and Production Operations for each Development and Production Area.
For the Calendar Year in which any Development and Production Area is granted the surface rental set forth in Article 11.4.1(a) and (b) shall be prorated from the date in which such Development and Production Plan is approved up to 31 December of said Calendar Year, and the additional sum shall be paid within thirty (30) days after the approval of the Development and Production Area.
A separate application for a Petroleum Production Licence and corresponding Development Plan shall be submitted for each Development and Production Area.
Once the area is relinquished by Contractor, Staatsolie may then establish a Development and Production Area and perform its own Petroleum Operations at its sole risk.
Petroleum Costs for Exploration, Development and Production Operations as detailed above shall be separately identified for each Development and Production Area.

More Definitions of Development and Production Area

Development and Production Area means one or more Discovery Areas as delineated in an Approved Development and Production Plan.

Development and Production Area means the acreage covering one or more Reservoir identified for Development and Production as stipulated in the plan for Development and Production that has been approved by the Council of Ministers.

Development and Production Area means that portion of the Licence Area reasonably determined by Licensee on basis of the available seismic and well data to cover the areal extent of an accumulation of Petroleum constituting a Commercial Discovery, enlarged in area by ten percent (10%), where possible, such enlargement to extend uniformly around the perimeter of such accumulation;

Development and Production Area means the area or areas established by CONTRACTOR in accordance with Section 8.3 at any time prior to the expiration of the Exploration Period by notifying MOGE in writing that CONTRACTOR has made a Commercial Discovery and furnishing a map describing an area comprised of all or a portion of the Discovery Area believed by CONTRACTOR to contain the Commercial Discovery. Once designated, a Development and Production Area shall extend to all depths within its lateral boundaries.

Development and Production Area means that portion of the Licence Area reasonably determined by Licensee on basis of the available seismic and well data

Development and Production Area means the area subject to an approved development plan;

Development and Production Area means that area covering one or more discovered Petroleum Accumulations as delineated in an Approved Development and Production Plan.