Exploitation Area Clause Samples
Exploitation Area. The Exploitation Area will be demarcated as a regular polygon, four-sided, which will comprise the Commercial Field of the portion of it within the Contract Area, plus a margin around the Commercial Field of not more than one kilometer provided that the Contract Area so permits. Since the area of the Commercial Field in the Contract Area may vary, the Exploitation Area will remain unalterable except as allowed in Section 9.4 below.
Exploitation Area. The portion of the Contract Area in which one or more Commercial Fields are found, as established in Clause 9 (Section 9.3) of this Contract. The area of the Commercial Fields will comprise the area of the vertical projection on the surface of the reservoir or reservoirs forming them, and which the Ministry of Mines and Energy defines in accordance with the Decree 3229 of 11 November 2003, or regulations which modify or replace it.
Exploitation Area. It is the portion of the contracted area in which one or more commercial fields are allocated, as per the provisions of Clause 9 (Section 9.3) hereof. The area of each commercial field shall comprise the sheathing of the vertical surface of the deposit or deposits that make it up and that are defined by the Ministry of Mines and Energy as per Decree 3229 of 11 November 2003, as amended or replaced.