Significant Gas Discovery definition

Significant Gas Discovery means a Discovery of Natural Gas from an Exploration Well in an Area as defined in the Rules.
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Significant Gas Discovery means a discovery of natural gas which has tested significant flow rates of natural gas 6[] from one or more reservoirs and is estimated to be capable of continuous production over a reasonable period which in the opinion of a holder of a petroleum right could be declared a commercial discovery in the future provided, inter alia that adequate gas pipeline transportation facilities are installed and gas markets have been sufficiently developed for sale of natural gas on commercial basis;
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Significant Gas Discovery means a Discovery of Non-Associated Natural Gas which has tested significant flow rates of Natural Gas from one or more hydrocarbon reservoirs, which in the opinion of the Contractor could be declared a Commercial Discovery in the future, provided a commercially viable market is ascertained, either as a standalone development, or as a combined development of contingent resources and future exploration prospects.
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Examples of Significant Gas Discovery in a sentence

  • If the Operator does not declare a Significant Gas Discovery as a Commercial Discovery during the allowed retention period, the Operator shall relinquish the Significant Gas Discovery Area and the Licence shall terminate automatically upon the termination of the allowed retention period.

  • If Operator declares a Commercial Discovery during the allowed retention period, Operator will select the Discovery Area out of the Significant Gas Discovery Area, and the provisions of the Agreement and the Rules for grant of approval of Development Plan and the grant of Lease shall apply mutatis mutandis.

  • The Operator will request DGPC for retention of Significant Gas Discovery for period as allowed in accordance with the Rules together with the justification.

  • The Operator will request DGPC for retention for Significant Gas Discovery for period as allowed in accordance with the Rules together with the justification.

  • If the Contractor does not declare a Significant Gas Discovery as a Commercial Discovery during the Retention Period, the Contractor shall relinquish the significant Gas Discovery Area and the Licence shall terminate automatically upon the termination of the Retention Period.

  • If Contractor declares a Commercial Discovery during the Retention Period, Contractor will select the Development Area out of the Significant Gas Discovery Area, and the provisions of Articles 5.6, 5.7 and 5.8 shall apply.

  • The application for the Retention Period in respect of the Significant Gas Discovery Area shall be submitted for approval of DGPC in accordance with the Rules.

  • If Concessionaire does not make a declaration of a Commercial Discovery with respect to such Significant Gas Discovery prior to the termination of this time frame, then the Significant Discovery Area shall be relinquished.

  • The Onshore Model Contract does not have a Significant Gas Discovery procedure after a possible discovery or after completion of the evaluation period.

  • Recommendation # 17: It can be recommended to include in the Onshore Model Contract the possibility for a Significant Gas Discovery declaration and include a 10 year period for the evaluation of possibilities for the commercial development of such discovery.


More Definitions of Significant Gas Discovery

Significant Gas Discovery means a Discovery of Natural Gas from an Exploration Well in the Contract Area which has tested significant flow rates of Natural Gas from one or more reservoirs, and which is estimated to be capable of continuous Production from the said reservoir(s) over a reasonable period and which in the opinion of the Contractor could be declared a Commercial Discovery in the future, provided inter-alia that: (a) adequate gas pipeline transportation facilities are installed, or (b) markets have been sufficiently developed for sale of Natural Gas on a commercial basis, or (c) the requirements of both (a) and (b) have been met.
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Significant Gas Discovery means a Discovery of Natural Gas from an Exploration Well within the Exploration Block which has „Značajno otkriće plina” znači Otkriće prirodnog plina u Istražnoj bušotini unutar Istražnog prostora gdje su ispitani znatni protoci Prirodnog tested significant flow rates and/or has potential for commercial production of Natural Gas (predominantly methane) from one or more reservoirs, and which is estimated to be capable of continuous production from the said reservoir(s) over a reasonable period and which in the opinion of the Investor could be declared a Commercial Discovery in the future, provided inter- alia that: a) adequate Natural Gas pipeline transportation facilities are installed; or b) commercially accessible markets have been sufficiently developed for sale of Natural Gas on a commercial basis. plina i/ili postoji potencijal za komercijalnu eksploataciju Prirodnog plina (pretežno metana) iz jednog ili više ležišta i za koje se procjenjuje da bi moglo polučiti trajnom eksploatacijom predmetnog ležišta/predmetnih ležišta tijekom razumnog razdoblja i koje bi se, prema mišljenju Investitora, moglo proglasiti Komercijalnim otkrićem u budućnosti pod, između ostalog, sljedećim uvjetima:
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Significant Gas Discovery means a Discovery of Natural Gas from an Exploration Well in the Contract Area which has tested significant flow rates of Natural Gas (predominantly methane) from one or more reservoirs, and which is estimated to be capable of continuous Production from the said reservoir(s) over a reasonable period and which in the opinion of the Contractor could be declared a Commercial Discovery in the future, provided inter-alia that: (a) adequate gas pipeline transportation facilities are installed, or (b) markets have been sufficiently developed for sale of Natural Gas on a commercial basis, or (c) the requirements of both (a) and (b) have been met.
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Significant Gas Discovery means a discovery of natural gas that is substantial in terms of reserves and is potentially commercial, but cannot be declared commercial for one or more of the following reasons:
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Significant Gas Discovery means a period of time running from the expiry of the First Renewal Period and for a period of two (2) Contract Years thereafter. means a period of six (6) consecutive months, commencing January 1st and July 1st and ending June 30th and December 31st, respectively.
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Significant Gas Discovery means a Discovery of Natural Gas from an Exploration Well in the Agreement Area which has tested significant flow rates of Natural Gas (predominantly methane) from one or more reservoirs, and which is estimated to be capable of continuous production from the said reservoir(s) over a reasonable period and which in the opinion of the Contractor could be declared a Commercial Discovery in the future, provided inter-alia that: adequate gas pipeline transportation facilities are installed, or Markets have been sufficiently developed for sale of Natural Gas on a commercial basis, or ( c) the requirements of both (a) and (b) have been met.
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Related to Significant Gas Discovery

  • Significant Assets means one or more assets or businesses which, when purchased, optioned or otherwise acquired by the CPC, together with any other concurrent transactions, would result in the CPC meeting the initial listing requirements of the Exchange.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Critical Energy Infrastructure Information means all information, whether furnished before or after the mutual execution of this Agreement, whether oral, written or recorded/electronic, and regardless of the manner in which it is furnished, that is marked “CEII” or “Critical Energy Infrastructure Information” or which under all of the circumstances should be treated as such in accordance with the definition of CEII in 18 C.F.R. § 388.13(c)(1). The Receiving Party shall maintain all CEII in a secure place. The Receiving Party shall treat CEII received under this agreement in accordance with its own procedures for protecting CEII and shall not disclose CEII to anyone except its Authorized Representatives.

  • Significant change means a major decline or improvement in the tenant’s status which does not normally resolve itself without further interventions by staff or by implementing standard disease-related clinical interventions that have an impact on the tenant’s mental, physical, or functional health status.

  • Significant emissions unit means an emissions unit that emits or has the potential to emit a PAL pollutant in an amount that is equal to or greater than the significant level (as defined in section 140 or in the Act, whichever is lower) for that PAL pollutant, but less than the amount that would qualify the unit as a major emissions unit as defined in section 079.

  • Gasification means the substoichiometric oxidation or steam reformation of a substance to produce a gaseous mixture containing two or more of the following: (i) oxides of carbon; (ii) methane; and (iii) hydrogen;

  • Energy Deviation(s) means the absolute value of the difference, in MWh, in any Settlement Interval between (a) the final accepted Bid (as defined in the CAISO Tariff) submitted for the Project for the hour of the Settlement Interval divided by the number of Settlement Intervals in the hour; and (b) Delivered Energy for the Settlement Interval.

  • Project Highway means the Site comprising the existing road {, proposed bypasses and tunnels} forming part of [NH-** from km ** to km **] and all Project Assets, and its subsequent development and augmentation in accordance with this Agreement;

  • High global warming potential hydrofluorocarbons means any hydrofluorocarbons in a particular end use for which EPA’s Significant New Alternatives Policy (SNAP) program has identified other acceptable alternatives that have lower global warming potential. The SNAP list of alternatives is found at 40 CFR Part 82 subpart G with supplemental tables of alternatives available at (http://www.epa.gov/snap/).

  • Business Critical means any function identified in any Statement of Work as Business Critical.

  • Small disadvantaged business concern means a small business concern that represents, as part of its offer that—

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Small Diversity business concern means a small business concern that is at least fifty-one (51) percent unconditionally owned by one or more individuals who are both socially and economically diverse, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one or more socially and economically diverse individuals and that has its management and daily business controlled by one or more such individuals. This term also means a small business concern that is at least fifty-one (51) percent unconditionally owned by an economically diverse Indian tribe or Native Hawaiian Organization, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one of these entities, that has its management and daily business controlled by members of an economically diverse Indian tribe or Native Hawaiian organization.

  • Significant Asset Sale means each Asset Sale which generates Net Sale Proceeds of at least $10,000,000.

  • Significant means in reference to a net emissions increase or the potential of a source to emit any of the following pollutants, a rate of emissions that would equal or exceed any of the following rates:

  • Building Energy Benchmarking means the process of measuring a building’s Energy use, tracking that use over time, and comparing performance to similar buildings.

  • Significant Financial Interest means anything of monetary value, including but not limited to, salary or other payments for services (e.g., consulting fees or honoraria); equity interests (e.g., stocks, stock options or other ownership interests); and intellectual property rights (e.g., patents, copyrights, license agreements, and royalties from such rights). The term does not include:

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Total Evaluated CRIS MW means the Additional CRIS MW requested plus either (i) if the Installed Capacity Supplier previously received an exemption under Sections 23.4.5.7.2(b), 23.4.5.7.6(b), 23.4.5.7.7 or 23.4.5.7.8, all prior Additional CRIS MW since the facility was last exempted under Sections 23.4.5.7.2(b), 23.4.5.7.6(b), or 23.4.5.7.8, or (ii) for all other Installed Capacity Suppliers, all MW of Capacity for which an Examined Facility obtained CRIS pursuant to the provisions in ISO OATT Sections 25, 30, or 32 (OATT Attachments S, X, or Z). For purposes of Section 23.4.5 of this Attachment H, “UCAP Offer Reference Level” shall mean a dollar value equal to the projected clearing price for each ICAP Spot Market Auction determined by the ISO on the basis of the applicable ICAP Demand Curve and the total quantity of Unforced Capacity from all Installed Capacity Suppliers in a Mitigated Capacity Zone for the period covered by the applicable ICAP Spot Market Auction. For purposes of Section 23.4.5 of this Attachment H, “Unit Net CONE” shall mean localized levelized embedded costs of a specified Installed Capacity Supplier, including interconnection costs, and for an Installed Capacity Supplier located outside a Mitigated Capacity Zone including embedded costs of transmission service, in either case net of likely projected annual Energy and Ancillary Services revenues, and revenues associated with other energy products (such as energy services and renewable energy credits, as determined by the ISO, translated into a seasonally adjusted monthly UCAP value using an appropriate class outage rate. The Unit Net CONE of an Installed Capacity Supplier that has functions beyond the generation or transmission of power shall include only the embedded costs allocated to the production and transmission of power, and shall not net the revenues from functions other than the generation or transmission of power.

  • Geothermal resources shall collectively mean the matter, substances and resources defined in subparagraph 21(a) that are not subject to this Lease but are located on adjacent land or lands in reasonable proximity thereto;

  • Material Gas Imbalance means, with respect to all Gas Balancing Agreements to which the Borrower or any other Credit Party is a party or by which any Oil and Gas Property owned by the Borrower or another Credit Party is bound, a net overproduced gas imbalance to the Borrower and the other Credit Parties, taken as a whole, in excess of 110,000 Mcf.

  • Energy efficiency improvement means equipment, devices, or materials intended to decrease energy consumption, including, but not limited to, all of the following:

  • Genetic resources means genetic material of actual or potential value;

  • economic resources means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds, but may be used to obtain funds, goods or services;

  • Project Companies means all Group Project Companies and Non-Group Project Companies together, each being a “Project Company”.

  • Core academic subjects means English, reading or language arts, mathematics, science, foreign languages, civic and government, economics, arts, history, and geography.