Common use of EXPLOITATION PROGRAMS AND BUDGETS Clause in Contracts

EXPLOITATION PROGRAMS AND BUDGETS. Within three (3) months following the acceptance of a Commercial Field in the Contracted Area, the Operator shall submit to the Parties the proposed projects, programs, and Budget for the Development Plan of the Commercial Field, for the rest of the respective calendar year, to be approved by the Executive Committee. In the event that less than six and a half (6½) months remain before the end of said year, the Operator shall prepare and submit the proposed projects, programs, and budget for the following calendar year, within a three-month period.

EXPLOITATION PROGRAMS AND BUDGETS. Within three (3) months following the acceptance of a Commercial Field in the Contracted Contract Area, the Operator shall submit to the Parties the proposed projects, programs, and an operating program plus a Budget for the Development Plan of the Commercial Field, for the rest of the respective current calendar yearyear and a development plan , to be approved by agreed in the Executive Committee. In the event that If less than six and an a half (6½) months remain before are left to the end of said the year, the Operator shall prepare and submit the proposed projects, programs, a Budget and budget programs for the following calendar year, year within a three-month periodperiod of three (3) months.

EXPLOITATION PROGRAMS AND BUDGETS. Within three (3) months following the acceptance of a Commercial Field in the Contracted Area, the Operator shall submit to the Parties the proposed projects, programs, and Budget for the Development Plan of the Commercial Field, for the rest of the respective calendar year, to be approved by the Executive Committee. In the event that less than six and a half (6½6 1/2) months remain before the end of said year, the Operator shall prepare and submit the proposed projects, programs, and budget for the following calendar year, within a three-month period.

EXPLOITATION PROGRAMS AND BUDGETS. Within the three (3) months following the acceptance of a Commercial Field in the Contracted Contract Area, the Operator shall submit present to the Parties the proposed parties, a proposal for projects, programs, programs and Budget budget for the Development Plan of the Commercial Field, commercial field for the rest remaining of the respective calendar corresponding Calendar year, to be approved agreed on by the Executive Committee. In the event that case there are less than six months and a half (6½6 - 1/2) months remain before for the end expiration of said such year, the Operator shall prepare and submit the proposed present a proposal for projects, programs, programs and budget Budget for the following calendar year, within a three-month periodterm of three (3) months.