Work Programs and Budgets Sample Clauses

Work Programs and Budgets. 1. On or before the 28th day of April of each year, Operator shall deliver to the Parties a proposed Work Program and Budget detailing the Joint Operations to be performed for the following Contract Year. Within Thirty (30) Days of such delivery, the Operating Committee shall meet to consider and to endeavor to agree on a Work Program and Budget. This budget should be approved no later than June 28, at which date WP&B are due to be presented to the Kenyan government 2. The Work Program and Budget agreed by the Operating Committee shall include at least that part of the Minimum Work Obligations required to be carried out during the Contract Year in question under the terms of the Contract. If the Operating Committee is unable to agree on such a Work Program and Budget, then Operator shall choose between the competing proposals, always in the understanding that it must contain at least the operations as are necessary to maintain the Contract in full force and effect, including such operations as are necessary to fulfill the Minimum Work Obligations required for the given Contract Year.

Work Programs and Budgets. 1. On or before the 28th day of April of each year, Operator shall deliver to the Parties a proposed Work Program and Budget detailing the Joint Operations to be performed for the following Contract Year. Within Thirty (30) Days of such delivery, the Operating Committee shall meet to consider and to endeavor to agree on a Work Program and Budget. This budget should be approved no later than June 28, at which date WP&B are due to be presented to the Kenyan government 2. The Work Program and Budget agreed by the Operating Committee shall include at least that part of the Minimum Work Obligations required to be carried out during the Contract Year in question under the terms of the Contract. If the Operating Committee is unable to agree on such a Work Program and Budget, then Operator shall choose between the competing proposals, always in the understanding that it must contain at least the operations as are necessary to maintain the Contract in full force and effect, including such operations as are necessary to fulfill the Minimum Work Obligations required for the given Contract Year. 3. For the award of all contracts less than or equal to US$500,000 in value, the relevant provisions of the Contract shall apply. For all contracts valued at more than US$500,000 Operator shall be required to utilize tender procedure. (A) Prior to incurring any commitment or expenditure for the Joint Account, which is estimated to be in excess of US$500,000 Operator shall send to each Non-Operator an Authorization For Expenditures (AFE). (B) Notwithstanding the above, Operator shall not be obliged to furnish an AFE to the Parties with respect to any Minimum Work Obligations, workovers of ▇▇▇▇▇ and general and administrative costs that are listed as separate line items in an approved Work Program and Budget. (C) All AFEs shall be for informational purposes only. Approval of an operation in the current Work Program and Budget shall authorize Operator to conduct the operation without further authorization from the Operating Committee. (D) For expenditures on any line item of an approved Work Program and Budget, Operator shall be entitled to incur without further approval of the Operating Committee an over expenditure for such line item up to ten percent (10%) of the authorized amount for such line item; provided that the cumulative total of all over expenditures for a Calendar Year shall not exceed five percent (5%) of the total annual Work Program and Budget in question.

Work Programs and Budgets. For each Calendar Year, the Lead Contractor shall prepare and submit to the Participants Work Programs and Budgets not later than the first day of August of the preceding Year. Each such Work Program and Budget shall set out in a reasonably detailed manner the work to be carried out and shall include an itemized estimate of the corresponding expenditures. The Operating Committee shall review and discuss the Work Program and Budget submitted by Lead Contractor for the following Calendar Year and shall adopt, not later than August 30, a Work Program and Budget to be submitted to the Operator for further study and possible modification before referring to the JMC pursuant to Article 12.2.

Work Programs and Budgets. 10.1 Contractor shall be responsible for the procurement of installations, equipment and supplies and entering into contracts for the purchase of goods and services with Foreign Subcontractors and others arising out of Petroleum Operations, all in accordance with approved Work Programs and Budgets. Operator shall assist the Contractor when requested in respect of the matters set out in the previous sentence, and shall implement domestic procurement operations as provided in Clause 7.2(c) in accordance with approved Work Programs and Budgets. 10.2 Within ninety (90) days after the Effective Date, Contractor shall submit to the Coordination Committee for its approval a Work Program and the corresponding Budget for the next succeeding Calendar Year. 10.3 Before the 15th October of each Calendar Year, the Contractor shall prepare and submit to the Coordination Committee for its review a proposed annual Work Program and Budget for the next Calendar Year. If the Coordination Committee requests any modifications in an annual Work Program and/or Budget, the Contractor shall promptly make such modifications to the Work Program and/or Budget and resubmit the modified Work Program and Budget to the Coordination Committee. The Coordination Committee shall approve each Work Program and Budget within forty five (45) days after receipt of same. If the Coordination Committee fails to notify the Contractor of its approval of the Work Program and Budget within said forty five (45) days after its receipt, the annual Work Program and Budget proposed by the Contractor together with any modifications timely requested by the Coordination Committee, shall be deemed to have been approved by the Coordination Committee. 10.4 In connection with the review and approval of the annual Work Program and Budget, the Contractor and Operator shall submit to the Coordination Committee such supporting data as may be requested by the Coordination Committee. 10.5 The Contractor may, in accordance with the following provisions, incur expenditures in excess of the approved Budget or expenditures outside the approved Budget in carrying out the approved Work Program, provided that the objectives in the approved Work Program are not substantially changed: a) In carrying out an approved Budget, the Contractor may, if necessary, incur excess expenditures of no more than ten percent (10%) of the approved Budget in any specified budgetary category. The Contractor

Work Programs and Budgets. The sales, exchanges, or other dispositions of G & G Data or other engineering, technical, or proprietary data and information related to Joint Operations;

Work Programs and Budgets. 6.1 Work Program and Budgets 6.2 Discovery and Evaluation 6.3 Development and Production 6.4 Itemization of Expenditures 6.5 Contract Awards 6.6 Authorization for Expenditure Procedure 6.7 Overexpenditures of Work Programs and Budgets

Work Programs and Budgets. 3.01 The Operator will prepare an annual work program (the “Programs”) to be carried out on each of the Company’s Properties within 30 days of the execution of this Agreement and present it to the Company for approval. The Program shall contain detailed descriptions of each item in the Program and a timeline during which the work is projected to be carried out. Programs may be segregated into phases with subsequent phases requiring approval based on the results of the previous phase. Said Programs shall be accompanied with a budget (the “Budget”) detailing the cost of each item in the Budget and setting out the estimated dates for advances to be made by the Company. Said Budget shall include details of the portion of the Operator’s administration costs required to carrying out the Programs. 3.02 The Operator shall, 90 days prior the completion of any annual Program, prepare a new annual Program with a Budget for the upcoming annual period and submit it to the Company for approval. Each new annual Program and Budget shall include the balance of any prior Program and Budget expected to be incomplete at the end of its annual period. 3.03 Each annual Program may be modified from time to time based upon results attained from monthly reports as the work progresses, subject to the agreement of the parties hereto. 3.04 The Company shall have 30 days from the receipt of any Program and Budget to approve or modify the Program and Budget. Any changes to Programs and Budgets will be made by the Operator within 15 days and presented to the Company for final approval which the Company shall deliver within 10 days of receipt. 3.05 The Operator and the Company shall jointly ensure that the professional consultants provided by the Company or as contracted by the Operator shall provide a written log and photographic record of exploration activities and progress while any Program is in progress and a full independent geological and or engineering report as would be required by the Company for presentation to investors, regulatory agencies or such other parties that the Company deems appropriate. The Company shall be solely responsible to approve the party selected to write such reports. 3.06 Following approval of the respective Programs and Budgets, the Company agrees to provide the Operator with sufficient funding to cover planned expenses 60 days in advance of actual expenditures. 3.07 Should an unforeseen shortfall in funding occur, or should there be an emergency situati...

Work Programs and Budgets. 6.1 Exploration and Appraisal 6.2 Development

Work Programs and Budgets. 7.1 Preparation by Operator and Approval by Management Committee As soon as possible after the Effective Date as regards the remaining portion of the relevant Calendar Year and, thereafter, at least two (2) months prior to the beginning of each succeeding Calendar Year, Operator shall prepare and submit to the Management Committee for approval a Work Program and Budget for the Contract Area and a tentative Work Program and Budget for the ensuing two (2) Calendar Years during the Exploration Period and the ensuing four (4) Calendar Years during the Exploitation Period, setting forth the Petroleum Operations which Operator plans to carry out during such Calendar Years. The Management Committee may make such modifications in each such Work Program or Budget as it deems appropriate, and shall notify the Operator and the Parties of each Work Program and Budget as so modified and approved.