Common use of MINIMUM WORK PROGRAMME Clause in Contracts

MINIMUM WORK PROGRAMME. 8.1 The Contractor shall perform the Minimum Work Programme, as set forth in Article 8.2, and shall complete said Minimum Work Programme not later than 12 months after the Effective Date. 8.2 The Minimum Work Programme shall consist of: 8.2.1 Within 12 months of the Effective Date, Contractor will undertake to shoot and process seismic at a cost of $1.25 million which may be up to 200 km of new data. 8.2.2 Within 12 months of the Effective Date, the Contractor will carry out rehabilitation work in the Development Areas on the Samgori, Patardzeuli, South Dome and Krtsanisi Fields (outlined in red on the map in Annex B) to the value of $0.75 million. 8.2.3 Within 18 months of the Effective Date, the Contractor will complete a technical and economic evaluation of all known oil or gas discoveries in the Contract Area. In the event that the Contractor concludes that any such discovery may result in a Commercial Discovery, then the procedures described in Article 9 shall apply. In the event that the Contractor concludes that any such discovery would not lead to a Commercial Discovery, then the area of the discovery shall be relinquished at the first opportunity, unless there is demonstrable prospectivity in horizons above or below the discovery horizon.