Marketable Deposit definition

Marketable Deposit means a geological entity filled with hydrocarbons, duly evaluated in accordance with the provisions in Article 9 below, and which, in accordance with the rules in use in the international oil industry, can be developed and produced under economic conditions for the Contractor.
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Marketable Deposit signifies a geological entity filled with hydrocarbons, duly evaluated in accordance with the provisions in Article 9 herein below, and which in accordance with the rules in use in the international oil industry can be developed and produced under economic conditions for the Contractor.
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Examples of Marketable Deposit in a sentence

  • In the event of discovery of a Marketable Deposit in the Contract Area, the production of Hydrocarbons from the said Deposit shall be, for the entire period of the Operation with respect to this Contract, the object of a production sharing between the Parties in accordance with the provisions of Article 22 below.

  • The Contractor shall submit to the Minister for his approval the development and exploitation startup plan of the Marketable Deposit prepared in association with the contractor of the adjacent contract area within six (6) months after the Minister has stated his requirements.

  • In the event a Marketable Deposit should be discovered in the Contract Area, the production of Hydrocarbons of said Deposit shall be, for the entire period of the Operation with respect to the present Contract, the object of a production sharing between the Parties in accordance with the provisions of Article 22 herein below.

  • The Contractor shall submit to the Minister for his approval the development and exploitation startup plan of the Marketable Deposit prepared in association with the contractor of the adjacent contract area within six (6) months after the Minister has formulated his requirement.