Procedures and Approval Method of the Operational Documentation Sample Clauses

Procedures and Approval Method of the Operational Documentation. Project documentation related with the research, exploration, development and production activities defined in clauses 7.1 and 7.2 shall be prepared and issued by the Contractor in accordance with the determined and agreed principles and procedures (or state control shall be applied to those documentation in terms of being compliant with working conditions, job safety, technology, ecology and health regulations) and shall be submitted to the Board of Directors for investigation and approval. Such documentation shall receive approval or disapproval within 30 (thirty) days, commencing from the date of delivery to the Board. In case of a requirement by the Authorized Body for a change and/or modification to the project documentation, following the receipt of the notification by the Parties containing changes and the modifications required to be conducted by the Contractor, the Board shall meet to discuss such issue within 15 (fifteen) days commencing from the date of the receipt of such notification. Changes and modifications agreed by the Parties and incorporated to the project documentation shall be deemed to be accepted and approved. Any of the Parties who could not reach an agreement about the project shall present the case to an industrial specialist (expert) to resolve the disputes. Contractor not accepting the project is not obliged to finance the studies and the activities and shall be reimbursed the cost of all Petroleum Activities already conducted by the Contractor. Following the acceptance of the project documentation related with the Petroleum Activities at every stage, Contractor, at the soonest time possible and prior to the first month of the each calendar year, shall prepare and issue the detailed plan and budget of the works for the subsequent year and shall submit it to the Board of Directors for review and approval.
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