Declaration of Commercial Feasibility. 13.1. Upon compliance with the Discovery Assessment Plan approved by ANP, the Operating Committee may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery.
Declaration of Commercial Feasibility formal and written notification of the Concessionaire to ANP declaring one or more Deposits as a Commercial Discovery in the Concession Area.
Declaration of Commercial Feasibility formal and written notification of the Operating Committee to ANP declaring one or more Deposits as a Commercial Discovery in the Contract Area.
Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discovery Assessment Plan approved by ANP, the Operating Committee may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery. If it has not been submitted to ANP yet, the Final Discovery Assessment Report shall be submitted along with the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only be effective upon approval of the Final Discovery Assessment Report by ANP. Failure to submit the Declaration of Commercial Feasibility within the term contractually established shall entail the lawful termination of the Agreement with respect to the relevant area retained for the Discovery Assessment. The submission of one or more Declarations of Commercial Feasibility shall not exempt the Consortium Members from complying with the Minimum Exploration Program.
Declaration of Commercial Feasibility. Declaration of Commercial Feasibility
Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discovery Assessment Plan approved by ANP, the Operating Committee may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery. The Consortium Members, on behalf of the Operating Committee, shall take the measures required for submitting the Declaration of Commercial Feasibility to ANP. If it has not been submitted to ANP yet, the Final Discovery Assessment Report shall accompany the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only be effective after ANP’s approval for the Final Discovery Assessment Report. Failure to submit the Declaration of Commercial Feasibility within the term established in this Agreement shall entail the lawful termination of the Agreement regarding the relevant area retained for the Discovery Assessment. Submission of one or more Declarations of Commercial Feasibility, shall not exempt the Consortium Members from performing the Minimum Exploration Program.
Declaration of Commercial Feasibility. 7.1. Upon compliance with the Initial Work Program, the Concessionaire may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery.
Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Initial Work Program, the Concessionaire may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery through notice to ANP. If it has not been submitted to ANP yet, the Final Rehabilitation Phase Report shall accompany the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only become effective after approval of the Final Discovery Assessment Report by ANP. Failure by the Concessionaire to submit the Declaration of Commercial Feasibility in a timely manner shall entail the lawful termination of the Agreement regarding the relevant area retained for the Discovery Assessment. The submission of the Declaration of Commercial Feasibility shall not exempt the Concessionaire from the compliance with the Initial Work Program.
Declaration of Commercial Feasibility. The written notice from THE CONTRACTOR to the XXX, my means of which he declares that the Discovery he has made within the Contracted Area is a Commercial Field.
Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discoveries of Oil or Natural Gas Assessment Plan approved by ANP, the Concessionaire may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery through notice to ANP. The Declaration of Commercial Feasibility shall only become effective after approval of the Final Discoveries of Oil or Natural Gas Assessment Report by ANP. Failure by the Concessionaire to submit the Declaration of Commercial Feasibility until the end of the Exploration Phase shall entail the lawful termination of the Agreement regarding the relevant area retained for the Discovery Assessment. Submission of one or more Declarations of Commercial Feasibility shall not exempt the Concessionaire from performance of the Minimum Exploration Program.
