Production Individualization Sample Clauses

Production Individualization procedure that aims to the division of the Production result and the rational use of the natural resources of the Federal Government, by means of unification of the Development and Production Stage of the ore body that extends beyond the Concession Area;
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Production Individualization. 18.1. The Procedure for the Individualization of Oil and Natural Gas Production must be established, under the terms of the Applicable Legislation, if it is identified that a Deposit extends beyond the Area of the Agreement.
Sample 1
Production Individualization procedure that aims to the division of the Production result and the rational use of the natural resources of the Federal Government, by means of unification of the Development and Production Stage of the ore body that extends beyond the Concession Area; Applicable Law: the set of all laws, decrees, regulations, resolutions, ordinances, normative instructions or any other normative acts that impose or which will focus on the Parties, or on the activities of Exploration, Assessment, Development and Production Stage of Oil and Natural Gas, as well as on the decommissioning of the facilities.
Sample 1
Production Individualization. The Procedure for the Individualization of Oil and Natural Gas Production must be established, under the terms of the Applicable Legislation, if it is identified that a Deposit extends beyond the Area of the Agreement. The Manager will be a signatory to the Production Individualization Agreement as a Consenting Intervening Party, except in the case of art. 4 of Law No. 12.304 / 2010. Clause Nineteen - Discovery, Evaluation and Development of New Reservoir in the Production Phase Any Discovery of a New Oil or Natural Gas Reservoir must be notified by the Consortium Members to ANP, on an exclusive basis, within a maximum period of 72 (seventy-two) hours. The notification shall be accompanied by all relevant data and information available. The Consortium Members may, at their discretion, carry out the Assessment of the Discovery of a New Reservoir at any time during the Production Phase. If the Consortium members decide to carry out the Assessment of the Discovery of a New Reservoir, they must present the Assessment activities in the Annual Work and Budget Program of the Production Phase, following the procedures of Clause Sixteen. If the Contractors decide to proceed with the Development of a New Reservoir, they must notify ANP and, within 180 (one hundred and eighty) days after the communication, submit to ANP a Development Plan, in accordance with the Applicable Legislation. The Development or Production of a New Reservoir will only be authorized after approval by ANP, under the terms of the Applicable Legislation.
Sample 1

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