Exploration Work Obligations definition

Exploration Work Obligations means the work obligations specified for each Exploration Phase as set out in Annex D .
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Exploration Work Obligations means the work obligations specified for each Exploration Phase as defined in the Agreement.
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Examples of Exploration Work Obligations in a sentence

  • If the Contractor exercises this option, and after the payment is received by the Minister, the Contractor shall be deemed to have fulfilled its Exploration Work Obligations for the relevant Exploration Phase under this Contract.

  • Any such voluntary relinquishment of part of the Contract Area during the Exploration Period shall not reduce the Exploration Work Obligations set forth in Annex D nor the amount of the corresponding guarantee.

  • In case CONTRACTOR spends more than the Minimum Expenditure Obligations required to be expended or performs works (approved by EGAS) in excess of the Minimum Exploration Work Obligations during any Exploration period, the excess expenditure and/or works shall be subtracted from the Minimum Expenditure Obligations and/or the Minimum Exploration Work Obligations for any succeeding Exploration period, as the case may be.

  • Annex “C” is the form of a Bank Letter of Guarantee to be submitted by CONTRACTOR to EGAS for the sum of ---------------- million U.S. Dollars ($ ---000000) after the issuance of the relevant law and before the date of signature by the Minister of Petroleum of this Agreement, to guarantee the execution of CONTRACTOR’s Minimum Exploration Work Obligations hereunder for the first Exploration period of ------ (--) Year(s).

  • EGAS may approve CONTRACTOR’s request to enter the succeeding Exploration period in the event the CONTRACTOR has failed to fulfill any of its Minimum Exploration Work Obligations of the then current Exploration period subject to its fulfillment of the Minimum Expenditure Obligations for such period.

  • For the purpose of classifying costs, expenses and expenditures for Cost Recovery Petroleum as well as for the purpose of establishing when the Minimum Exploration Work Obligations have been met, costs, expenses and expenditures shall be recorded in major accounts including the following: Necessary sub-accounts shall be used.

  • As a conditions precedent to the effectiveness of this Contract, upon the Effective Date, the Contractor shall provide an irrevocable bank guarantee, payable to The Permanent Secretary, Ministry of Commerce, Industry and Tourism, guaranteeing its minimum Exploration Work Obligations for the Initial Licencing Period of the Exploration Period provided in this Annex D.

  • If CONTRACTOR is allowed to enter the succeeding Exploration period without having fulfilled all of its Minimum Exploration Work Obligations, the part of the Minimum Exploration Work Obligations which has not been fulfilled shall be carried forward to the succeeding Exploration period and CONTRACTOR shall submit a separate letter of guarantee with the value of the part of such Minimum Exploration Work Obligations which shall be valid until the end of the succeeding Exploration period.

  • For the third Exploration period of ------ (---) Year(s) that CONTRACTOR elects to enter after the second Exploration period, the Minimum Expenditure Obligations shall be million U.S. Dollars ($ --000000), provided that the Minimum Exploration Work Obligations of CONTRACTOR in such period shall be to acquire square kilometers (---- km2) of 3D seismic program, acquire kilometers (--- km) of 2D seismic program, reprocess seismic data, carry out technical studies and drill ------ ( ) exploratory well(s).

  • After the payment has been made, the Contractor shall be deemed to have fulfilled its minimum Exploration Work Obligations under Article 5 of the Contract.

Related to Exploration Work Obligations

  • exploration area means that part of the Area allocated to the Contractor for exploration, described in schedule 1 hereto, as the same may be reduced from time to time in accordance with this contract and the Regulations;

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Exploration Costs means costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects that may contain oil and gas reserves, including costs of drilling exploratory wells and exploratory type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property and after acquiring the property. Exploration costs, which include applicable operating costs of support equipment and facilities and other costs of exploration activities, are:

  • Exploration Operations means any operations carried out for or in connection with the exploration for minerals, and includes -

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Project Area means land or lands located within the incentive

  • Redevelopment Project Area means an area designated by the municipality, which is not less in the aggregate than 1 1/2 acres and in respect to which the municipality has made a finding that there exist conditions which cause the area to be classified as an industrial park conservation area or a blighted area or a conservation area, or a combination of both blighted areas and conservation areas.

  • Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Exploration means all activities directed toward ascertaining the existence, location, quantity, quality or commercial value of deposits of Products.

  • Exploration Expenditures means the sum of all costs of acquisition and maintenance of the Property, all exploration and development expenditures and all other costs and expenses of whatsoever kind or nature including those of a capital nature, incurred or chargeable by KRC with respect to the exploration and development of the Property and the placing of the Property into Commercial Production.

  • Development Project means a project for the development of land within a project area.

  • Project Costs means the costs of the construction, acquisition or equipping of the Project, as further described in the Project Budget, and such other costs as may be approved in writing by the Department, provided such costs are permitted by the Act.

  • Project area plan means a written plan that, after its effective date, guides and controls the development within a project area.

  • drilling means the act of boring a hole to reach a proposed bottom hole location through which oil or gas may be produced if encountered in paying quantities, and includes redrilling, sidetracking, deepening, or other means necessary to reach the proposed bottom hole location, testing, logging, plugging, and other operations necessary and incidental to the actual boring of the hole;

  • Research facility means buildings and structures, including machinery and equipment, used or to be used primarily for research or experimentation to improve or develop new tangible goods or materials or to improve or develop the production processes thereto.

  • Pilot project means an innovative environmental project that covers one or more designated facilities, designed and implemented in the form of an EMSA. (See Section 52.3 of the Act.)

  • Production Operations means all operations conducted for the purpose of producing Petroleum from the Development Area after the commencement of production from the Development Area including the operation and maintenance of all necessary facilities therefor.

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • 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).

  • Project area budget means a multiyear projection of annual or cumulative

  • Development Area means that area to which a development plan is applicable.

  • Development Activities means those activities which are normally undertaken for the development, construction, repair, renovation, rehabilitation or conversion of buildings for residential purposes, including the acquisition of property;

  • mining area means all those pieces of land containing two hundred and forty‑six (246) square miles or thereabouts situate in what is known to the parties as the “Xxx Xxxxx‑Siberia Nickel Laterite Area” the subject of the mineral claims applications for mineral claims and Temporary Reserves listed in the First Schedule hereto which are generally delineated and respectively coloured green and orange and red in the plan marked “X” signed by or on behalf of the parties for the purpose of identification;

  • Research Project means a discrete scientific endeavor to answer a research question or a set of research questions related to medical marijuana and is required for a medical marijuana research license.

  • Workover means operations on a producing well to restore or increase production.

  • Production Area means that part of the animal feeding operation that includes the animal confinement area, the manure storage area, the raw materials storage area, and the waste containment areas. The animal confinement area includes, but is not limited to, open lots, housed lots, feedlots, confinement houses, stall barns, free stall barns, milkrooms, milking centers, egg washing or egg processing areas, areas used for the storage and disposal/treatment of mortalities, cowyards, barnyards, medication pens, walkers, animal walkways, and stables. The manure storage area includes, but is not limited to, lagoons, runoff ponds, storage sheds, stockpiles, under-house or pit storages, liquid impoundments, static piles, and composting piles. The raw materials storage area includes, but is not limited to, feed silos, and silage bunkers. The waste containment area includes, but is not limited to, settling basins and areas within berms and diversions which separate uncontaminated stormwater.