Exploration Authorisation definition

Exploration Authorisation means the Exclusive Exploration Authorisation for Hydrocarbons granted and renewed for the benefit of the CONTRACTOR in accordance with the provisions of Part III, Chapter II of the Petroleum Code.
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Exploration Authorisation means the authorisation referred to in Article 3 of this Contract by which the State authorises the Contractor to carry out, on an exclusive basis, all works of prospection and exploration of Hydrocarbons within the Exploration Perimeter.
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Examples of Exploration Authorisation in a sentence

  • In accordance with the 2nd paragraph of Section 28 (1) of the Petroleum Code, signature of this Contract constitutes the grant of an Exploration Authorisation.

  • In accordance with the second paragraph of Section 28 (1) of the Petroleum Code, signature of this Contract constitutes the grant of an Exploration Authorisation.

  • The granting of an Exploitation Authorisation entails ipso facto the cancellation of the Exploration Authorisation.

  • If, at the end of sub-phase 1 or sub-phase 3, the corresponding study has not been completed and/or its deliverables have not been submitted to the Ministry, the Minister may end the Exploration Authorisation.

  • The termination of this Contract shall automatically entail the withdrawal of the Exploration Authorisation and of the currently valid Exploitation Authorisations.

  • To this end, the Contractor shall pay to the State, for said training and job skills improvement plan, an amount of three hundred thousand Dollars ($300,000) per Calendar Year during the validity of the Exploration Authorisation, and, starting from the granting of an Exploitation Authorisation, an amount of six hundred thousand Dollars ($600,000) per Calendar Year.

  • The entities of the Contractor, other than the National Enterprise, shall finance the share of the latter in all Petroleum Costs corresponding to the exploration Petroleum Operations including therein the evaluation/assessment of discoveries incurred in the Exploration Perimeter, during the entire duration of the Exploration Authorisation which is the subject of Article 3 hereinabove.

  • In this case, the Exploration Authorisation shall terminate automatically on the date of said notification.

  • For this purpose, the Contractor shall pay to the State, for the said training and development, an amount equal to one hundred and fifty thousand Dollars ($150,000) per Calendar Year for the duration of the Exploration Authorisation and, from the date of grant of an Exploitation Authorisation, an amount equal to five hundred thousand Dollars ($500,000) per Calendar Year Contract.