Transboundary Unit definition

Transboundary Unit. ’ means a single geological Hydro- carbon structure or Reservoir which extends across the Delimi- tation Line the entirety of which is located beyond 9 nautical miles from the coastline, approved by the Executive Agencies for joint Exploration and/or Exploitation pursuant to the terms of a unitization agreement;
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Transboundary Unit means a single geological Hydrocarbon structure or Reservoir which extends across the Delimitation Line the entirety of which is located beyond 9 nautical miles from the coastline, approved by the Executive Agencies for joint Exploration and/or Exploitation pursuant to the terms of a unitization agreement; ``Unit Area'' means the geographical area described in a Transboundary Unit, as set out in the unitization agreement; and ``Unit Operating Agreement'' means an agreement made between the Licensees and the unit operator that, among other things, establishes the rights and obligations of the Licensees and the unit operator including, but not limited to, the allocation of costs and liabilities incurred in and benefits derived from operations in the Unit Area.
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Transboundary Unit means a single geological Hydrocarbon structure or Reservoir which extends across the Delimitation Line the entirety of which is located beyond 9 nautical miles from the coastline, approved by the Executive Agencies for joint Exploration and/or Exploitation pursuant to the terms of a unitization agreement;
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Examples of Transboundary Unit in a sentence

  • The Parties shall facilitate, subject to their respective national law, access to Facilities for workers engaged in any activities related to a Transboundary Unit.

  • If it is determined as a result of consultations pursuant to paragraph 1 of Article 5 or following further proceedings under Articles 14 to 17 of this Agreement that a Transboundary Reservoir exists, and a unitization agreement has not been approved by the Parties, each Party shall take steps to facilitate Exploitation of the Transboundary Reservoir as a Transboundary Unit.

  • The Parties shall use their best efforts to facilitate cooperation between Licensees In activities related to the Exploration and Exploitation of a Transboundary Unit, including the facilitation of access to and use of Facilities near the Delimitation Line, and shall not prevent or impede such cooperation by unreasonably withholding necessary Permits.

  • Each Executive Agency shall require its Licensees to enter into a Unit Operating Agreement for the Exploration or Exploitation of a Transboundary Unit In accordance with this Agreement.

  • The Executive Agencies shall ensure that a unit operator for a Transboundary Unit Is designated by agreement between the Licensees.

  • Each Executive Agency shall require its Licensees to enter into a Unit Operating Agreement for the Exploration or Exploitation of a Transboundary Unit in accordance with this Agreement.

  • The Parties shall use their best efforts to facilitate cooperation between Licensees in activities related to the Exploration and Exploitation of a Transboundary Unit, including the facilitation of access to and use of Facilities near the Delimitation Line, and shall not prevent or impede such cooperation by unreasonably withholding necessary Permits.

  • The Executive Agencies shall ensure that a unit operator for a Transboundary Unit is designated by agreement between the Licensees.