Examples of Proposed Development and Production Plan in a sentence
Where the Proposed Development and Production Plan is not approved by the Commissioner the Parties shall, within a period of thirty (30) days from the date on which the Licensee has been notified of the Commissioner’s decision, meet to attempt to agree on the revisions to the Proposed Development and Production Plan proposed by the Commissioner.
Except where the Proposed Development and Production Plan submitted by the Licensee does not meet the requirements of Clause 6.5, the Commissioner shall give his or her approval to the Proposed Development and Production Plan within a period of six (6) months from the date of its submission.
Where the expert determines that the Proposed Development and Production Plan meets the requirements of Clause 6.5, the Commissioner shall forthwith give the requisite approval to the Proposed Development and Production Plan submitted by the Licensee.
Within thirty (30) days thereafter the expert shall choose between the two submitted Proposed Development and Production Plans based upon which most closely takes into account that expert’s previous decision and meets the requirements of Clause 6.5 and the Commissioner shall forthwith give the requisite approval to the chosen Proposed Development and Production Plan.
If the Government wishes to exercise the option under Clause 18.1, the Minister of Petroleum must give notice to that effect to the Licensee no later than ninety (90) days following the date of approval of the Proposed Development and Production Plan approved hereunder in accordance with Clause 6.6. Such notice by the Minister of Petroleum to the Licensee shall include the percentage participating interest to be acquired by the Government.
The Proposed Development and Production Plan shall provide a clear explanation of the Licensee’s commitments in respect of the development of the Petroleum resources in a manner that is representative of Best Industry Practice and shall not contain any activities or operations that are contingent on further Appraisal Operations or on any other activities, operations or determinations.
Lopez,Chief, Branch o f Lands and Minerals Operations.[FRDoc.83-7585Filed3-23-83; 8:45am] BIL ING CODE 4310-84-M Minerals Management Service Oil and Gas and Sulphur Operations in the Outer Continental Shelf a g e n c y : Minerals Management Service, Interior.ACTION: Notice of the Receipt of a Proposed Development and Production Plan.
Where pursuant to Article7.3.1(e)(ii) or Article 11.3 the Licensee elects to submit a Proposed Development and Production Plan to the Commissioner, the Licensee shall have a period of twelve (12) months from the date of notification under Article 7.3.1(e)(ii) or Article 11.3 to submit such Proposed Development and Production Plan.