Contract Area definition

Contract Area means, on the Effective Date, the area described in Appendix-A and delineated on the map attached as Appendix B or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract (including any additional area as provided under Article 11.3).

Contract Area means the geographic maintenance area as negotiated between the Employer and the Province of BC.

Contract Area means the surface area described in Annex 1, including the geological formations contained in the vertical projection of such surface to the depth indicated in Annex 1, in which the Contractor is authorized and obligated to conduct Petroleum Activities pursuant to this Contract, it being understood that: (i) this Contract does not grant the Contractor any real property rights to the Contract Area or to natural resources in its subsurface, and (ii) the Contract Area shall be reduced in accordance with the terms of this Contract.

Examples of Contract Area in a sentence

• Except as herein otherwise specifically provided, Operator shall promptly pay and discharge expenses incurred in the development and operation of the Contract Area pursuant to this agreement, and shall charge each of the parties hereto with their respective share of the expenses as provided hereto in Exhibit "B".

• Systematic review of the hydrocarbon potential of the Contract Area through integrated geological, geophysical, structural, geochemical and other studies.

• Subject to law and to this Agreement, the Contractor may enter and leave the Contract Area at any time for the purposes of Petroleum Operations.

• Each Non-Operator agrees that Operator shall be entitled to utilize the provisions of Oil and Gas Lien laws of the state in which the Contract Area is situated in order to secure the payment to Operator of any sum due hereunder for services performed or materials supplied by Operator.

• In the same manner, the parties shall also own all production of oil and gas from the Contract Area subject however, to the payment of royalties and other burdens on production as described hereafter.

More Definitions of Contract Area

Contract Area means the area that is the subject of a Petroleum Agreement and, if any part of a Contract Area is relinquished pursuant to a Petroleum Agreement, the Contract Area is the Contract Area as originally granted;

Contract Area means all lands and oil and gas interests intended to be developed and operated for oil and gas purposes under this agreement. Such lands and oil and gas interests are described in Exhibit "A".

Contract Area means that part of the Area allocated to the Contractor for Exploitation, defined by the coordinates listed in schedule 1 hereto.

Contract Area means Block L27 the geographic area covered by this Contract, and described in Appendix "A" and any part thereof not previously surrendered;

Contract Area means on the Effective Date, the area described in Annexes 1 and 2 and, thereafter, the whole or any part of such area in respect of which, at the relevant time, the Contractor continues to have rights and obligations under this Contract.

Contract Area means the area specified in Annexes A and B, but not any part of it which has been relinquished under Article 3; “Contract Year” means a period commencing on the Effective Date, or on any anniversary of it, and ending immediately before the next anniversary of it;

Contract Area means that part of the Original Contract Area or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract and shall include any additional area granted as per the provisions of Article-11.2, for which Contractor has valid License(s)/Lease(s) at any point during the currency of the Contract.