UNITISATION Sample Clauses
UNITISATION.
41.1 Where a Petroleum Accumulation in the Contract Area extends beyond the boundaries of the Contract Area into another contract area or a license area, the SPA may, in order to ensure efficient and secure petroleum operations, require the relevant petroleum operations to be developed and produced in a coordinated manner in order to ensure optimum petroleum recovery and optimum use of the relevant petroleum infrastructure, may on written notice to the Contractor and other contractor(s) request that they enter into a unitisation agreement.
41.2 Upon being so required by written notice in accordance with clause 41.1, the Contractor shall cooperate with the other contractor(s) to attempt to prepare a unitisation agreement for the Development and Production of the Field.
41.3 The Contractor shall submit the unitisation agreement to the SPA for approval within 18 months of receipt of notice from the SPA under clause 41.1.
41.4 The SPA shall grant approval within one hundred and eighty (180) days of submission. If the SPA has reasonable grounds for refusal (such to be notified to the Contractor), the SPA may refuse grant of approval within the same period of time. At which point the Parties shall work together in good faith to agree on an appropriate unitisation agreement.
41.5 In case of expiry of the period of one hundred and eighty (180) days following submission to the SPA without the SPA either approving or refusing grant of approval, the approval shall be deemed granted by the SPA.
41.6 Following the SPA’s approval of an agreement in accordance with sub-clause 41.4 a collective proposal for a common Development Plan for the deposit of Petroleum shall be submitted by the Contractor and such other entity(ies) to the SPA for approval, which approval shall be granted within one hundred and eighty (180) days of submission. If the SPA has reasonable grounds for refusal (such to be notified to the Contractor), the SPA may refuse grant of approval within the same period of time. In case of expiry of the period of one hundred and eighty (180) days following submission to the SPA without the SPA either approving or refusing grant of approval, the approval shall be deemed granted by the SPA.
41.7 If a Field in the Contract Area is in proximity to another Petroleum Accumulation in another area that is not subject of a production sharing agreement, the SPA may, in order to ensure efficient and secure petroleum operations, require the relevant petroleum operations to...
UNITISATION. (1) Where the recoverable reserves of a Commercial Discovery extend into an area adjacent to the Contract Area, the Minister may require the Contractor to produce Petroleum therefore in co-operation with the Contractor of the adjacent area. Where non-commercial deposits of Petroleum in the Contract Area if exploited with deposits in an area adjacent to the Contract Area, would be commercial, the Minister may make a similar requirement to the contractor of that adjacent area.
(2) If the Minister so requires, the Contractor shall in co-operation with the contractor of the adjacent area, submit within six (6) months, unless otherwise agreed by the Parties, a proposal for the joint exploitation of the deposits, for the approval of the Minister. The reasonable costs of preparing the proposal shall be divided equally between the Contractor and the adjacent contractor.
(3) If the proposal is not submitted or approved, the Minister may prepare his own proposal, in accordance with good international petroleum industry practice, for the joint exploitation of the recoverable reserves. The Minister's proposal may be adopted by the Contractor, subject to sub-clause 21(4), and subject to the adjacent contractor's acceptance of the same proposal.
(4) The provisions of the proposal for joint exploitation shall prevail over this Contract, where those provisions do not reduce the financial benefits to the parties under this Contract.
UNITISATION. (a) Any reservoir of petroleum that extends across the boundary of the JPDA shall be treated as a single entity for management and development purposes.
(b) Australia and East Timor shall work expeditiously and in good faith to reach agreement on the manner in which the deposit will be most effectively exploited and on the equitable sharing of the benefits arising from such exploitation.
UNITISATION. (1) Where the recoverable reserves of a Commercial Discovery extend into an area adjacent to the Contract Area, the Minister may require the Contractor to produce Petroleum therefore in co-operation with the Contractor of the adjacent area. Where non- commercial deposits of Petroleum in the Contract Area if exploited with deposits in an area adjacent to the Contract Area, would be commercial, the Minister may make a similar requirement to the contractor of that adjacent area.
(2) If the Minister so requires, the Contractor shall in co-operation with the contractor of the adjacent area, submit within six
(6) months, unless otherwise agreed by the Parties, a proposal for the joint exploitation of the deposits, for the approval of the Minister. The reasonable costs of preparing the proposal shall be divided equally between the Contractor and the adjacent contractor. Draft Production Sharing Contract Block L27 Ministry of Energy Page 31
UNITISATION. Any Unitisation occurs and the Projection which is adopted in accordance with Clause 6 (Projections) following such Unitisation demonstrates that the Obligors will not be able to meet their liabilities as they fall due.
UNITISATION. 34.1 In the event a Reservoir extends beyond the Contract Area into an adjacent area which is the subject of another Petroleum Contract (as defined by the Kurdistan Region Oil and Gas Law) (an “Adjacent Contract Area”), or in the event a Reservoir of an Adjacent Contract Area extends into the Contract Area, the provisions of Article 47, Paragraph Second of the Kurdistan Region Oil and Gas Law shall apply and the GOVERNMENT shall require the CONTRACTOR and the contractor of the Adjacent Contract Area to agree upon a schedule for reaching agreement of the terms of the unitisation of the Reservoir, which terms shall be based on reliable technical, operational and economical parameters, all in accordance with prudent international petroleum industry practice. In the event that the Minister of Natural Resources decides the unitisation pursuant to Article 47, Paragraph Third of the Kurdistan Region Oil and Gas Law, and if the CONTRACTOR does not agree with the decision of the Minister of Natural Resources, the CONTRACTOR shall be entitled to arbitration pursuant to the provisions of Article 42.1.
34.2 For clarification and the avoidance of doubt and notwithstanding Article 47 of the Kurdistan Region Oil and Gas Law, in the event that a Reservoir extends beyond the boundaries of the Contract Area into an adjacent area which is not the subject of another Petroleum Contract (as defined by the Kurdistan Region Oil and Gas Law), the GOVERNMENT shall, upon the CONTRACTOR’s request, take the necessary steps to extend the boundaries of Contract Area so as to include the entire Reservoir within the Contract Area, provided that the CONTRACTOR can offer the GOVERNMENT a competitive minimum work program for such adjacent area.
UNITISATION. 21.1. Pursuant to Section 44(2) of the Act, upon discovery of the overlay of a Petroleum Reservoir as per section 44(1) of the Act, the Contractor shall notify the Minister. Such notice shall contain at least:
(a) the technical analysis that determines the possible existence of a shared Petroleum Reservoir;
(b) the general characteristics of the shared Petroleum Reservoir;
(c) the geological, geophysical and other types of assessments used to determine the possible existence of such shared Petroleum Reservoir including, the information obtained during the drilling of ▇▇▇▇▇ that helped determine that the Discovery exceeded the limits of the contract area;
(d) additional information the Contractor deems pertinent.
21.2. Upon receipt of the notice required by section 44(2) of the Act, the Minister shall notify the holders of adjacent licences and give such directions to enter into a unitisation agreement pursuant to section 44 of the Act.
21.3. The activities conducted for the shared production Petroleum Reservoir shall be accounted for towards compliance with the Minimum Exploration Work Programme under this Agreement.
21.4. Where the Contractor is of the opinion that the unitisation process detrimentally affects an obligation which the Contractor is required to perform or a right which it may exercise within a prescribed period, the Contractor may submit for the Minister’s approval a request for an extension to exercise the abovementioned obligations and rights which must specify, at a minimum, the Contractor’s justification in support of its request. Should the Minister grant an extension of such period, the Minister shall take into consideration the time which elapsed between the date the Contractor notified the Minister pursuant to this Article and the date on which the unit Development is approved by the Minister.
21.5. When a Petroleum Reservoir is partially located in an area without a valid Petroleum Exploration Licence or Petroleum Production Licence, the Contractor shall notify the Minister of the geological, geophysical and other types of assessments used to determine that the Discovery exceeded the limits of the Contract Area and submit an application to the Minister to incorporate the unlicensed area that contains part of the Petroleum Reservoir(s) identified by the Contractor under the provisions of this Article into a Petroleum Production Licence for the unitised development of the Petroleum Reservoir(s) under consideration. The Minister shall...
UNITISATION. 12.1 Where a Commercial Discovery in this Agreement Area extends into another Agreement Area, the Minister may require that the development and production of the field be carried out jointly consistent with general Petroleum Industry practice. Where non-commercial deposits of Petroleum in the Agreement Area would, if exploited with non-commercial deposits in another Agreement Area be commercial, the Minister may make a similar requirement.
12.2 If the Minister so requires, the Operator shall in cooperation with the operator of the other Agreement Area, prepare a proposal for the joint exploitation of the deposits involved, which proposal shall be submitted promptly to the Minister for approval.
12.3 If such proposal is not promptly submitted to the Minister, the Minister may prepare or cause to be prepared a proposal for the account of the parties involved in accordance with the generally accepted standards of the international Petroleum Industry for the joint exploitation of the deposits and shall submit such proposal to the parties involved.
12.4 This Article shall also be applicable to a deposit which extends into an area which is outside the territory of the Republic of Guinea-Bissau. In that case, the Government may reasonably impose such special rules as are necessary to satisfy any conditions arising from external agreements entered into by Guinea- Bissau with neighbouring countries for the development and production of the deposit.
UNITISATION. 7.10.1 With respect to Petroleum in the event a Reservoir extends beyond the Concession Area into an adjacent area which is the subject of another Petroleum Concession, or in the event a Reservoir of another Petroleum Concession extends into the Concession Area, the Minister may require the Concessionaires to agree upon a schedule for reaching agreement on the terms of the unitisation of the Reservoir or Field, which terms shall be based on reliable technical, operational and economical parameters, all in accordance with Good International Petroleum Industry Practice.
7.10.2 The Minister shall require unitisation where the carrying out of a joint Field Development Plan is essential for the Maximum Economic Recovery of the Petroleum.
UNITISATION. 21.1. Pursuant to Section 44(2) of the Act, the Contractor shall notify the Minister within ninety