Production Area definition
Examples of Production Area in a sentence
In determining the correction, Contractor shall use, where required, the information from other measurements made inside or outside the Production Area.
Each Annual Work Program and corresponding Annual Budget shall be broken down into the various Exploration Operations and, as applicable, the Appraisal operations for each Appraisal Area and the Development and Production Operations for each Development and Production Area.
For the Calendar Year in which any Development and Production Area is granted the surface rental set forth in Article 11.4.1(a) and (b) shall be prorated from the date in which such Development and Production Plan is approved up to 31 December of said Calendar Year, and the additional sum shall be paid within thirty (30) days after the approval of the Development and Production Area.
A separate application for a Petroleum Production Licence and corresponding Development Plan shall be submitted for each Development and Production Area.
Once the area is relinquished by Contractor, Staatsolie may then establish a Development and Production Area and perform its own Petroleum Operations at its sole risk.