Minimum Work Program definition

Minimum Work Program means the Work Units indicated in Annex 5, which the Contractor shall carry out during the Initial Exploration Period, it being understood that the Minimum Work Program is only a minimum work program and that the Contractor may carry out additional Surface Reconnaissance and Exploration, Exploration and Appraisal activities during the Exploration Period.
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Minimum Work Program has the meaning ascribed to it in Article ‎3.1.
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Minimum Work Program means the Work Units set forth in Annex 6, which the Contractor shall carry out during the Appraisal Period, it being understood that the Minimum Work Program is only a minimum work program and that the Contractor may carry out additional Appraisal activities during the Appraisal Period.
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Examples of Minimum Work Program in a sentence

  • Aflatoxin sampling and testing cost for the AB subsamples shall be included as a separate item in the handler’s invoice to the buyer at the rate of $0.0027 per pound or $0.27 per hundredweight of the peanuts covered by the invoice.

  • These projects are at various stage of implementation and work is being executed to meet the target as per Minimum Work Program (MWP).

  • The Contractor shall be required to complete at least the Minimum Work Program during the Initial Exploration Period.

  • CNPCIT expect to complete the third exploratory well of the three well Minimum Work Program in Q3 2011.

  • Balance of Minimum Work Program Commitment (MWP) by OIL under Production Sharing Contracts (PSCs) entered for NELP Blocks with Govt.

  • The Initial Performance Guarantee shall cover the total of the Work Units corresponding to the Minimum Work Program and the Minimum Program Increase.

  • It mean the Work Units that the Contractor is obliged to perform in each stage of the Exploration Phase, in accordance with Article 12 and Appendix D: Minimum Work Program.

  • The CNH may deny approval of plans if they: (i) do not comply with the Minimum Work Program or the Minimum Program Increase, or the work commitments for the First Additional Exploration Period or Second Additional Exploration Period, or (ii) do not conform to the Industry Best Practices and the Applicable Laws.

  • Block KK-DWN-2002/3 was relinquished during the year on completion of Minimum Work Program (MWP) under exploration phase.

  • The Contractor shall be required to complete at least the Minimum Work Program during the Initial Appraisal Period.


More Definitions of Minimum Work Program

Minimum Work Program. The minimum work program provides for drilling of 13 xxxxx (8 vertical and 5 horizontal side rill holes) and 1,500 km2 2D seismic surveys over 5 years. Production sharing principles Produced Hydrocarbons – all produced hydrocarbons Cost recovery hydrocarbons – up to 60% of Produced hydrocarbons Profit hydrocarbons = Produced hydrocarbons – (minus) Cost recovery hydrocarbons The share of the State in the Profit production stage depends on the production volume and the real rate of return. Distribution principles are determined by provisions of the PSA. Oleska PSA Advantages General Advantages • a long-term contract (50 years with the right of prolongation), the terms of which are unchanging and guaranteed by the State (of Ukraine) • guarantees of a free oil and gas export at market price • a guaranteed access to the gas transportation system of Ukraine • State support, including at the administrative level (the state provides issuance of all necessary approvals, quotas, permits and licenses, mining lease acts, documents for land and other permission documents for investors) • stabilization clause – protection of PSA projects from negative amendments in the legislation (including additional tax/customs burden) • possibility of consideration of disputes in international arbitration, not in Ukrainian courts; waiver of the State from sovereign immunity. Financial and Fiscal Advantages • all taxes are replaced by production sharing (except for profit tax, VAT and subsoil use fee) • royalty rate – 1,25% for gas, 2% for oil and condensate • production to be sold at a market price (regulated tariff shall not be applied) • export-import transactions are exempted from export/import charges and fees (excluding excise). VAT shall not be charged or it is calculated at zero rate • no taxes on income repatriation • automatic VAT refund • amortization of capital expenditures shall not be applied. All costs are recoverable from the date of incurring • non-refunded compensation expenses are subject to indexation • (Rate = LIBOR + 5% per annum). Legal Guarantees of Stability Art. 27 of the Law "On Production Sharing Agreements", art. 340 of the Tax Code of Ukraine, art. 8 of the Law "On Regime of Foreign Investment" contain the so-called "stabilization clause", in compliance to which: - new legislation that worsens business conduction conditions shall not be applied to Investors as per PSA - Improved legislation shall apply from the date of its entry into force Licensing Adva...
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Minimum Work Program the Company's work program, substantially in the form of Schedule 10 attached hereto or otherwise as reasonably satisfactory to IFC, which will include: (a) drilling, completion and testing of at least five development wellx xx the Ninotsminda field, (b) workovers on the Ninotsminda and West Rustavi fields, (c) equipment and facilities required for the increase of oil and gas production on the Ninotsminda and West Rustavi fields, and (d) seismic acquisition and interpretation required specifically for the Ninotsminda field and for the planning of workovers on the West Rustavi field. The Minimum Work Program shall exclude any activities relating to: (x) the assessment and exploration of the Manaxx xxxspect, (y) drilling and exploration work in the West Rustavi area other than the workovers and related activities described (b) above, and (z) any activities funded by the Company which are carried out for any other parties on a reimbursable basis. The Minimum Work Program shall also exclude any activities carried out prior to January 1, 1998, and any activities subsequent to the successful completion and testing of five development wellx xx the Ninotsminda field (all of which will have been drilled after January 1, 1998). For the purposes of assessing the cost of the Minimum Work Program, expenditures which were committed to by the Company prior to January 1, 1998 shall be excluded. "NOC Administration Overhead Charges" all payments made by the Company for services related to the regular operating expenses of the Project that are not specifically allowable and recoverable under Section II of Annex C of the PSC, except for payments to GBOC for regular operating expenses of the Project, payments directly required (i.e. excluding payments permitted) by the other Transaction Documents, and payments directly required under the Makoil License Transfer Agreement; "NOC Direct Overhead Charges" all payments made by the Company for services related to the regular operating expenses of the Project that are specifically allowable and recoverable under Section II of Annex C of the Production Sharing Contract between the Company and Georgian Oil ("PSC"), except for payments to GBOC for regular operating expenses of the Project, payments directly required (i.e. excluding payments permitted) by the other Transaction Documents, and payments directly required under the Makoil License Transfer Agreement;
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Minimum Work Program means the work described in Article 3.2 of this Agreement for each Renewal Period undertaken with respect to the Badin-II Revised Area.
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Minimum Work Program. Means the statement detailing the minimum commitment of Operating Services to be performed at the Agreement Area during the first three (3) Agreement Years, including the corresponding Budget, as established in Appendix "C".
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Related to Minimum Work Program

  • Work Program means a program of work reasonably acceptable to both parties in respect of a particular Property, contained in a written document setting out in reasonable detail;

  • Work Programme means the document adopted by the Commission for the implementation of the specific programme28 in accordance with its Article 12 or the equivalent document in content and structure adopted by a funding body.

  • Annual Work Plan means any of the Annual Work Plans.

  • Work Progress Schedule means the continually updated time schedule prepared and monitored by Contractor that accurately indicates all necessary appropriate revisions as required by the conditions of the Work and the Project while maintaining a concise comparison to the Baseline Schedule.

  • Work Plan means a plan that describes each individual activity to be conducted to complete eligible activities and the associated costs of each individual activity.

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

  • Training program means a standardized medication

  • main phase employment and support allowance means an employment and support allowance where the calculation of the amount payable in respect of the applicant includes a component under section 2(1)(b) or 4(2)(b) of the Welfare Reform Act 2007 except in Part 1 of Schedule 1;

  • Continuous Improvement Plan means a plan for improving the provision of the Goods and/or Services and/or reducing the Charges produced by the Supplier pursuant to Framework Schedule 12 (Continuous Improvement and Benchmarking);

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • Improvement Plan means the plan required by the Authority from the Supplier which shall detail how the Supplier will improve the provision of the Goods and/or Services pursuant to Clause 29.1.1 (Authority Remedies);

  • Work ethic camp means an alternative incarceration program

  • Work/ works means work / works to be executed in accordance with the contract.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Work Products are defined as all materials, tangible or not, created in whatever medium pursuant to this Agreement, including without limitation publications, promotional or educational materials, reports, manuals, specifications, drawings and sketches, computer programs, software and databases, schematics, marks, logos, graphic designs, notes, matters and combinations thereof, and all forms of intellectual property.

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;

  • Quality Assurance Program means the overall quality program and associated activities including the Department’s Quality Assurance, Design-Builder Quality Control, the Contract’s quality requirements for design and construction to assure compliance with Department Specifications and procedures.

  • PACE program means a program implemented by a municipality to stimulate energy efficiency and renewable energy projects in conformity with Act 270.

  • Mobile crisis outreach team means a crisis intervention service for minors or families of minors experiencing behavioral health or psychiatric emergencies.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

  • Utilization review plan or "plan" means a written procedure for performing review.

  • Development Plans has the meaning set forth in Section 3.2.

  • Basic health plan means the plan described under chapter

  • Development Consent means the consent granted to the Development Application for the Development and includes all modifications made under section 4.55 of the Act.

  • Time Worked means time during which an employee is performing labor or services for the benefit of an employer, including all time s/he is suffered or permitted to work, whether or not required to do so.