Common use of UNIFICATION Clause in Contracts

UNIFICATION. When an economically exploitable field extends continuously into another area or areas out of the Contracted Area, the Operator, in agreement with the Parties, and other interested Parties, subject to prior approval of the Ministry of Mines and Energy, shall formulate a unified exploitation plan, which must conform to the engineering techniques for hydrocarbon exploitation, applying without limitation thereto, any of the following methods: · Definition among the Parties of a basic production curve for the affected CPR ▇▇▇▇▇▇▇ commercial field and, in the event of the production decreasing below this curve, it shall be replaced with production from the new prospect. · Distribution of production in proportion to the reservoir yield corresponding to the area on surface of each field.

UNIFICATION. When an economically exploitable field extends continuously into another area or areas out of the Contracted Area, the Operator, in agreement with the Parties, and other interested Parties, subject to prior approval of the Ministry of Mines and Energy, shall formulate a unified exploitation plan, which must conform to the engineering techniques for hydrocarbon exploitation, applying without limitation thereto, any of the following methods: · Definition among the Parties of a basic production curve for the affected CPR ▇S▇▇▇▇▇▇ commercial field and, in the event of the production decreasing below this curve, it shall be replaced with production from the new prospect. · Distribution of production in proportion to the reservoir yield corresponding to the area on surface of each field.