Exclusive Operation definition

Exclusive Operation means those operations and activities carried out pursuant to this Agreement, the costs of which are chargeable to the account of less than all the Parties.

Exclusive Operation means those operations and activities carried out pursuant to this Agreement, the costs of which are chargeable to the account of less than all the Parties. I.24 EXCLUSIVE WELL means a well drilled pursuant to an Exclusive Operation. I.25 EXPLOITATION AREA means that part of the Contract Area which is established for development of a Commercial Discovery pursuant to the Contract or if the Contract does not establish an exploitation area, then that part of the Contract Area which is delineated as the exploitation area in a Development Plan approved as a Joint Operation or as an Exclusive Operation. I.26 EXPLOITATION PERIOD means any and all periods of exploitation during which the production and removal of Hydrocarbons is permitted under the Contract. I.27 EXPLORATION PERIOD means any and all periods of exploration set out in the Contract. I.28 EXPLORATION WELL means any well whose purpose at the time of the commencement of drilling is to explore for an accumulation of Hydrocarbons whose existence was at that time unproven by drilling. I.29 G & G DATA means only geological, geophysical and geochemical data and other similar information that is not obtained through a well bore. I.30 GOVERNMENT means the government the Republic of Peru and any political subdivision or agency or instrumentality thereof, including without limitation the Government Oil Company. I.31

Exclusive Operation means an operation carried out by less than all Parties in accordance with the provisions of Article 8.

Examples of Exclusive Operation in a sentence

• Stand by costs incurred subsequent to all Parties responding, or expiration of the response time permitted, whichever first occurs, shall be charged to and borne by the Parties proposing the Exclusive Operation in proportion to their Participating Interests, regardless of whether such Exclusive Operation is actually conducted.

• Such notice shall specify that such operation is proposed as an Exclusive Operation, the work to be performed, the location, the objectives, and estimated cost of such operation.

• If no Exclusive Operation is timely proposed, or if an Exclusive Operation is timely proposed but is not commenced within the applicable time periods under Article 7.2, such well shall be plugged and abandoned.

• Such notice shall specify that such operation is proposed as an Exclusive Operation and include the work to be performed, the location, the objectives, and estimated cost of such operation.

• Operator shall determine the amount by which each Day’s production during the tie-in of Exclusive Operation facilities falls below the previous month’s average daily production from the existing production facilities of such operation.

• The Participating Interest of such Non-Consenting Party in such Exclusive Operation shall be its Participating Interest set out in Article 3.2(A).

• Any Party that gave notice of non-consent shall be a Non-Consenting Party as to such Exclusive Operation.

• No Exclusive Operation shall be conducted (other than the tie-in of Exclusive Operation facilities with existing production facilities pursuant to Article 7.10) which conflicts with a previously approved Joint Operation or with a previously approved Exclusive Operation.

• This Article 10 shall apply mutatis mutandis to the abandonment of an Exclusive Well or any well in which an Exclusive Operation has been conducted (in which event all Parties having the right to conduct further operations in such well shall be notified and have the opportunity to conduct Exclusive Operations in the well in accordance with the provisions of this Article 10).

• The Contractors shall previously agree on the award to be paid by the Contractors not participating in the Operation with Exclusive Risk in case of evidenced success of the Exclusive Operation resulting in expansion of the recoverable volume of hydrocarbons in the Contract Area or in reduced expenses for the Consortium.

More Definitions of Exclusive Operation

Exclusive Operation means those operations and activities carried out by Operator, pursuant to this Agreement, the costs of which are chargeable to the account of less than all the Parties.

Exclusive Operation means those operations and activities carried out by Operator, pursuant to this Agreement, the costs of which are chargeable to the account of less than all the Parties. BUT WILL NOT BE DRILLED WITHIN 25 KM OF EXISTING WELL CAPABLE OF PROD.

Exclusive Operation means those operations and activities carried out pursuant to Part 5 of this Agreement, the costs of which are chargeable to the account of less than all of the Parties;