Development Lease(s) definition

Development Lease(s) means the Development Block or Blocks covering the geological structure capable of production, the corner points of which have to be coincident with one (1) minute by one (1) minute latitude and longitude divisions according to the International Grid System where possible or with the existing boundaries of the Area covered by this Concession Agreement as set out in Annex "A".

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Development Lease(s) means rights and obligations under this Agreement through which an area that covers the Development Block(s) is converted to a development lease after the approval of the Minister of Petroleum under Article III(d) of this Agreement; such area should cover the geological structure capable of production, the corner points of which have to be coincident with latitude and longitude divisions according to the International Coordinates Grid System, where possible, or with the existing boundaries of the Area covered by this Agreement as set out in Annex "A".

Development Lease(s) in this Agreement shall mean H&K Development Lease issued under the original Law No. 33 of 1975 as amended, WEST GHARIB Development Lease, HOSHIA Development Lease, WEST HOSHIA Development Lease, ARTA Development Lease, EAST ARTA Development Lease, issued under the original Law

Examples of Development Lease(s) in a sentence

• Such relinquishment shall be in a single unit of whole Exploration Blocks not converted to Development Leases (unless otherwise agreed upon between GANOPE and CONTRACTOR) so as to enable the relinquishment requirements to be precisely fulfilled.

• Such relinquishment shall be in a single unit of whole Exploration Blocks not converted to Development Leases unless otherwise agreed upon between GANOPE and CONTRACTOR so as to enable the relinquishment requirements to be precisely fulfilled.

• It is understood that at the time of any relinquishment the areas to be converted into Development Leases and which are submitted to the Minister of Petroleum and Mineral Resources for his approval according to Article III (d) shall, subject to such approval, be deemed converted to Development Leases.

• Subject to the auditing provisions under this Agreement, CONTRACTOR shall recover quarterly all costs, expenses and expenditures in respect of all the Exploration, Development and related operations under this Agreement and which was approved by GANOPE to the extent and out of ------------- percent (---%) of all Petroleum produced and saved from all Development Leases within the Area hereunder and not used in Petroleum operations.

More Definitions of Development Lease(s)

Development Lease(s) means the Development Block or Blocks covering the geological structure capable of production, the corner points of which have to be coincident with one (1) minute by one (1) minute latitude and longitude divisions according to the International Grid System where possible or with the existing boundaries of the Area covered by this Concession Agreement as set out in Annex "A". (r) "Agreement" shall mean this Concession Agreement and its Annexes. (s) "Gas Sales Agreement" shall mean a written agreement between EGPC and CONTRACTOR (as seller) and EGPC (as buyer), which contains the terms and conditions for Gas sales from a Development Lease entered into pursuant to Article VII (e). (t) "Standard Cubic Foot" (SCF) is the amount of Gas necessary to fill one (1) cubic foot of space atmospheric pressure of 14.65 PSIA at a base temperature of sixty degrees ▇▇▇▇▇▇▇▇▇▇ (▇▇▇▇▇. F).

Development Lease(s) is defined in the Concession Agreement;