Common use of Minimum Work Program Clause in Contracts

Minimum Work Program. During the Exploration Period, the Contractor commits itself to executing the following program of minimum work: First Exploration Sub- Period: _ _ months 2D seismic acquisition Amount (km) Cost ($) 3D seismic acquisition Amount (sq km) Cost ($) Exploration well(s) Number Depth (mss) Stratigraphic Target Cost ($ per well) Other Studies / Data (specify) Contingent Work Total Cost First Exploration Sub-Period …$MM Second Exploration Sub- Period _ _ months 2D seismic acquisition Amount (km) Cost ($) 3D seismic acquisition Amount (sq km) Cost ($) Exploration well(s) Number Depth (mss) Stratigraphic Target Cost ($ per well) Other Studies / Data (specify) Contingent Work Total Cost Second Exploration Sub-Period …$MM 3.1.1 If the Contractor completely fulfils all the obligations of the First Sub-Period, then it may, at its sole discretion, opt to enter into a Second Exploration Sub-Period. 3.1.2 If the Contractor has drilled more than the minimum number of Exploratory ▇▇▇▇▇ demanded in the minimum work Programme, then the surplus that exceeds the obligatory amount at the end of the period in question will be transferred and considered part of the obligations of the next guaranteed period(s).