Examples of Contract Area in a sentence
The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected.
Systematic review of the hydrocarbon potential of the Contract Area through integrated geological, geophysical, structural, geochemical and other studies.
If Operator terminates its legal existence, no longer owns an interest hereunder in the Contract Area, or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any action by Non-Operators, except the selection of a successor.
Subject to law and to this Agreement, the Contractor may enter and leave the Contract Area at any time for the purposes of Petroleum Operations.
In Contract Years 4 and 5 mentioned below, and unless the Contractor has relinquished all of the Contract Area (not being a Development Area, Oil Retention Area or a Gas Retention Area) before the start of the fourth (4th) Contract Year, the Contractor shall carry out an Exploration Work Programme and Budget of not less than the amount of work specified for these Contract Years below: Contract Years Data Evaluation Seismic Surveys Xxxxx 4-5 Interpretation of new and existing seismic data.