Minimum Work Obligations definition

Minimum Work Obligations means those work and/or expenditure obligations specified in the Contract that must be performed in order to satisfy the obligations of the Contract.

Minimum Work Obligations has the meaning ascribed to it in Clause 7.2;

Minimum Work Obligations means those work and/or expenditure obligations specified in the Licenses or Petroleum Law which must be performed during the then current License phase or period in order to satisfy the obligations of the License or Petroleum Law, including the drilling of a well.

Examples of Minimum Work Obligations in a sentence

• If within the time periods prescribed in this Article 6.1 the Operating Committee is unable to agree on such a Work Program and Budget, then the proposal capable of satisfying the Minimum Work Obligations for the Calendar Year in question that receives the largest Participating Interest vote (even if less than the applicable percentage under Article 5.9) shall be deemed adopted as part of the annual Work Program and Budget.

• Notwithstanding the above, Operator shall not be obliged to furnish an AFE to the Parties with respect to any Minimum Work Obligations, workovers of xxxxx and general and administrative costs that are listed as separate line items in an approved Work Program and Budget.

• Any portion of a Work Program and Budget adopted pursuant to this Article 6.1(D) instead of Article 5.9 shall contain only such operations for the Joint Account as are necessary to maintain the Contract in full force and effect, including such operations as are necessary to fulfill the Minimum Work Obligations required for the given Calendar Year.

• Likewise, a Party voting against voluntarily entering into or extending of an Exploration Period or Exploitation Period or any phase of the Contract or voluntarily extending the Contract shall not be liable for the Minimum Work Obligations associated therewith provided that it sends notification of its withdrawal within thirty (30) Days of such vote pursuant to Article 11.2.

• Operations which are required to fulfill the Minimum Work Obligations must be proposed and conducted as Joint Operations and may not be proposed or conducted as Exclusive Operations.

More Definitions of Minimum Work Obligations

Minimum Work Obligations means those work obligations set forth in Sub-articles 5.2.1, 5.2.2 and 5.2.3 for each respective phase of the Exploration Period.

Minimum Work Obligations means the minimum program of Petroleum Operations and corresponding expenditures, such as specified in the Contract.

Minimum Work Obligations means the work and/or expenditure obligations during the Exploration Period, as specified in the Concession, which must be performed or expended in order to satisfy the obligations contained in the Concession.

Minimum Work Obligations means the work obligations specified for each Exploration Phase as defined in Article 5.2 of the Agreement. „Minimalne radne obveze” znači radne obveze specificirane za svaku Istražnu fazu, a xxxx xx definirano u članku 5.2 Ugovora.

Minimum Work Obligations means those work and/or expenditure obligations specified in Article 4 of the DWT Contract and Article 4 of the WCTP Contract.

Minimum Work Obligations means those work and/or expenditure obligations specified in the Contract which must be performed during the then current Contract phase or period in order to satisfy the obligations of the Contract, and may become part of or become the MINIMUM DEVELOPMENT PROGRAM as the Project moves to the development phase. I.39 MINIMUM DEVELOPMENT PROGRAM means the program that is applied for by CCP and approved by the Government as the development plan for proceeding to that phase of the Project and is the minimum that the Parties agree to participate in going forward beyond Obligation Well Three. 1.39A NON-CONSENTING PARTY OR NON-PARTICIPATING PARTY means a Party who elects not to participate in a Joint Operation.

Minimum Work Obligations shall have the meaning ascribed to it in the Farmout Agreement;