Development Area definition
Examples of Development Area in a sentence
The Concessionaire must submit to ANP a monthly Production Bulletin for each Development Area or Field.
Once the Appraisal of a Discovery has been completed, the Concessionaire must submit a Final Oil or Natural Gas Discovery Appraisal Report to ANP for approval, which must indicate and justify any proposal to retain the Commercial Discovery Development Area, under the terms of the Applicable Legislation.
The Concessionaire shall retain from the Development Area only the Area of the Field approved by ANP under the Development Plan.
The Development Area to be retained will be the one included in the Final Oil or Natural Gas Discovery Evaluation Report approved by ANP.
The Development Area shall be delimited based on the data and information obtained during the Exploration Phase and the Discovery Assessment, in accordance with Applicable Legislation and the Best Practices of the Petroleum Industry.