Petroleum Lease definition

Petroleum Lease means a lease issued pursuant to the provisions of the Petroleum and Other Minerals Development Act, 1960 (as amended) or any statutory enactment amending or replacing the same or an analogous lease or authorisation process of any other competent authority authorising the production of Natural Gas;
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Petroleum Lease means a petroleum lease under the Petroleum Act 1923.
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Petroleum Lease see section 318AI (1) . "petroleum lease application period" see section 318BG (2) . "petroleum tenure" see section 318AI (3) . "physical monument" means a thing placed in or on land for the purpose of locating the boundary of an area of land, including, for example—
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Examples of Petroleum Lease in a sentence

  • The work programme and budget approved by the Joint Venture partners for 2018 includes: • Environmental and other studies – to support a Petroleum Lease and Pipeline Licence application;• 7 well bores – comprising 3 vertical wells and 2 dual lateral intercept wells into 2 of the vertical wells (see image below);• Production testing for gas and water; and• Dual lateral wells to extend knowledge of the deeper sections of the field and confirm development well concept.

  • Palm Valley Petroleum Lease (OL3) dated November 9, 1982 filed as exhibit 10(h) to Report on Form 10-K for the fiscal year ended April 30, 1983 is incorporated herein by reference.

  • In 1982 the Northern Territory granted Petroleum Lease No. 3 for the Palm Valley gas field to a MPAL subsidiary.

  • Petroleum Lease dated XX, between XX, as Lessor, and XX, as Lessee.

  • The work programme usually includes an exploration well, but the licence period is generally longer than other licences (minimum 15 years).Lease UndertakingGives the holder an exclusive right to apply for a Petroleum Lease a.

  • The Seven Heads gas field is located within the Seven Heads Petroleum Lease.Adjacent gas fields, Kinsale Head, Southwest Kinsale, Greensand and Ballycotton gas fields are all located within Kinsale Head Petroleum Lease (OPL 1).The Seven Heads facilities were installed between 2002 and 2003 with gas production commencing in 2003.

  • Petroleum Lease 33 expires in April 2007 and Petroleum Leases 50 and 51 expire in June 2011.A 92 square mile 3D seismic survey was undertaken in late 2004 over PL51 and parts of PL33 and ATP 267P.

  • The Seven Heads Petroleum Lease details are summarised in Table 2 below.Table 2: Lease details LeaseCommencement Date Block No.Area (km²)Participants (* = Operator) % Interest Seven Heads 13 November 2002 48/23 (p), 168.5 *PSE Seven Heads 86.5%Petroleum Lease 48/24 (p), Limited 48/29 (p) & 48/30 (p) Island Oil and Gas12.5% Plc.

  • The Kinsale Head, Southwest Kinsale, Greensand and Ballycotton gas fields are all located within Kinsale Head Petroleum Lease (OPL-1).The adjacent gas field, Seven Heads gas field is located within Seven Heads Petroleum Lease.

  • Kinsale Energy has prepared this Decommissioning Plan – Kinsale Head Petroleum Lease (OPL 1) – Consent Application No.1 (the “Decommissioning Plan”) which sets out the details for the decommissioning1 of certain facilities in the Kinsale Head gas fields.In accordance with section 13A of the 1960 Act, an Environmental Impact Assessment Report (EIAR) has been prepared to accompany this application.


More Definitions of Petroleum Lease

Petroleum Lease or "lease" means a lease under this Act;
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Petroleum Lease means a property right with respect to which a lessee enjoys the right to drill, develop, produce and possess petroleum resources for a determinable period. May also be referenced as a subsurface lease or mineral rights lease.
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Petroleum Lease means Petroleum Leases Numbers O.L.4 and O.L.5 held by the Producers under the Petroleum Act and any substitute or renewal lease or other rights permitting the production of natural gas from the area the subject of the Petroleum Lease.
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Petroleum Lease means the Petroleum Lease referred to in Recital A hereof and includes any renewals or extensions thereof.
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Related to Petroleum Lease

  • petroleum agreement means an agreement for the purpose of petroleum activities entered into by Government and another person in accordance with this Act;

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Petroleum liquids means crude oil, condensate, and any finished or intermediate products manufactured or extracted in a petroleum refinery.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Petroleum Act means the Petroleum and Geothermal Energy Resources Act 1967 (WA).

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements under which a Person leases, subleases or licenses or otherwise acquires or obtains operating rights in and to Hydrocarbons or any other real property which is material to the operation of such Person’s business.

  • Petroleum and Natural Gas Rights means the entire interest of the Vendor as specified in Schedule "A" in and to the Lands and, insofar as they pertain to the Lands, the Leases.

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Concession Contract means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities within the meaning of Articles 168 and 172, in order to entrust the execution of works or the provision and management of services to an economic operator (the ‘concession’). The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk, or both. The concessionaire shall be deemed to assume an operating risk where, under normal operating conditions, there is no guarantee of recouping the investments made or the costs incurred in operating the works or the services at stake;

  • Petroleum UST system means an underground storage tank system that contains petroleum or a mixture of petroleum with de minimis quantities of other regulated substances. Such systems include those containing motor fuels, jet fuels, distillate fuel oils, residual fuel oils, lubricants, petroleum solvents, and used oils.

  • Petroleum Substances means petroleum, natural gas, natural gas liquids, related hydrocarbons and any and all other substances, whether liquid, solid or gaseous, whether hydrocarbons or not, produced or producible in association with any of the foregoing.

  • Petroleum product means gasoline, gasoline−alcohol fuel blends, kerosene, fuel oil, burner oil, diesel fuel oil or used motor oil.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Approved Petroleum Engineer means (a) Netherland, Xxxxxx & Associates, Inc., (b) Xxxxx Xxxxx Company Petroleum Consultants, L.P., (c) Xxxxxxxxxx Petroleum Consultants, Inc., or (d) any reputable firm of independent petroleum engineers selected by the Borrower and reasonably acceptable to the Administrative Agent.

  • Concession Area means particulars of the area as more particularly described in Form A of West Bengal Minor Minerals (Auction) Rules, 2016.

  • Approved Petroleum Engineers means (a) Netherland, Xxxxxx & Associates, Inc., (b) Xxxxx Xxxxx Company Petroleum Consultants, L.P. and (c) any other independent petroleum engineers reasonably acceptable to the Administrative Agent.

  • Liquefied petroleum gas means a mixture of light hydrocarbons (predominantly propane, butane) that is gaseous under conditions of ambient temperature and pressure and that is maintained in a liquid state by an increase of pressure or lowering of temperature;

  • 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;

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • 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;