Development Pending definition
Development Pending means the status of the project addressing all or part of a known accumulation where project activities are ongoing to justify commercial viability in the foreseeable future. The critical contingencies have been identified and are reasonably expected to be resolved within a reasonable time frame
Development Pending means where resolution of the final conditions for development is being actively pursued (high chance of development).
Examples of Development Pending in a sentence
Project Maturity Sub‐Classes for Contingent Resources Development Pending: Where resolution of the final conditions for development is being actively pursued (high chance of development).
Projects have been defined to develop the resources in the Evaluated Areas for the Development Pending/ On Hold Contingent Resources at the evaluation date.