Development and Production Period definition

Development and Production Period means the period granted to an Authorised Person for the development and production of Commercial Discoveries;

Development and Production Period means the period defined in Article 5.10.

Development and Production Period in respect of each Commercial Field, commences on the Date of Establishment of a Commercial Field and shall terminate at the expiration of this Contract.

Examples of Development and Production Period in a sentence

• SOCAR and Contractor shall each advise the other of the names of its representatives and their alternates within twenty (20) days following commencement of the Development and Production Period.

• The Licensee or the Commissioner may from time to time during a Development and Production Period propose amendments to the then prevailing Approved Development and Production Plan, including for the purposes of incorporating a Satellite Development.

• 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.

• The Licensee shall not be liable to pay any Payroll Tax or National Development Levy in relation to its employees engaged in Petroleum Operations hereunder during any period prior to the commencement of the first Development and Production Period under this Licence.

• Thereafter (or on the occurrence of the first Development and Production Period, if earlier) the amount of the Financial Guarantee shall be determined (and from time to time adjusted) by the Minister of Petroleum pursuant to Sections 59(1) and 59(2) of the Act, having regard to representations made by the Licensee pursuant to Section 59(9) of the Act.

More Definitions of Development and Production Period

Development and Production Period has the meaning set out in sub-clause 3.5;

Development and Production Period means, in relation to the Development and Production Area, the period specified in Article 3.

Development and Production Period means the period granted to the Concessionaires for the conduct of Petroleum Operations under a Development Plan approved by the Government.

Development and Production Period shall have the meaning given to it in Article 4.5. "Development Programme" shall have the meaning given to it in Article 4.6.

Development and Production Period means the period referred to in paragraph 3.4;

Development and Production Period means any and all periods of Development and Production of Petroleum under the EPCC.

Development and Production Period has the meaning given to it in Article 2.7.