Common use of WORK PROGRAM AND EXPENDITURES Clause in Contracts

WORK PROGRAM AND EXPENDITURES. 4.1. The contract operator shall commence petroleum operations not later than six (6) months after the effective date. 4.2. The amount of exploration work to be undertaken by the contract operator pursuant to the terms of this contract during the first six (6) years following the effective date shall, subject to any negotiated change to the exploration work program and expenditures for contract years four (4) to six (6), be at least that specified for each of these six (6) years as follows:[9] Data Review Seismic Surveys ▇▇▇▇▇ Expenditure US$ Kms No. US$ First Contract Year Second Contract Year Third Contract Year Fourth Contract Year Fifth Contract Year Sixth Contract Year 4.3. If the contract is still in force after the sixth contract year, the Joint Authority and the contract operator shall agree to an exploration work program and expenditures for those subsequent contract years. 4.4. The Joint Authority and the contract operator may negotiate a change to the exploration work program and exp enditures covering contract years four (4) to ten (10), provided the changes are made at least three (3) months prior to the beginning of the contract year affected by the changes. No changes will be made to the exploration work program and expenditures for contract years one (1) to three (3).[10] 4.5. If during: a) the first three (3) contract years the contract operator completes less than the amount of exploration work required to be completed during those years, the Joint Authority shall terminate the contract;