Exploitation Concession definition

Exploitation Concession means any Exploitation Concession granted to the Parties pursuant to the Hydrocarbon Code and this Agreement, which derives from the Exploration Permits.

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Exploitation Concession means the Concession granted under the Geological and Mining Law for the Exploitation of Natural Gas and Oil of the type referred to in Article 15.2 of the Geological and Mining Law.

Exploitation Concession means any Exploitation Concession granted to PETCO and ONHYM pursuant to the Hydrocarbon Code and the Petroleum Agreement which originates from one or more of the Exploration Permits;

Examples of Exploitation Concession in a sentence

• However ONHYM shall not be required to commence the payment of its share of such expenses until the effective date of the relevant Exploitation Concession.

• Any production in excess of 300 million cubic meters from an Exploitation Concession shall be subject to royalty at the rate of five percent (5%).

• The maximum duration of the Exploitation Concession shall be twenty-five (25) years.

• The production of the first 300 million cubic meters from an Exploitation Concession is exempt from the payment of royalty.

• This payment has to be made within thirty (30) days of the official granting of the Exploitation Concession.

• The purpose of this Agreement (of which the Appendices form part) is to specify the rights and obligations of the Parties resulting from the Exploration Permits and any Exploitation Concession which might derive there from.

• The maximum term of the Exploitation Concession shall be for twenty-five (25) years.

• For the purposes of this Article 15, the quantities of Hydrocarbons used within the perimeter of the Exploitation Concession for the purposes of the direct or assisted exploitation of the deposit shall not be taken into consideration for the calculation of the above bonuses.

• In the event of establishment of a joint operating company (“JO”), the Operator in the context of this Accounting Procedure will mean the JO with respect to the any Exploitation Concession, and PETCO or any successor Private Party to PETCO, with respect to the Exploration Permits.

• With the exception of the stipulations of paragraph 4.2. of the Petroleum Agreement, all costs and expenses incurred pursuant to the Petroleum Agreement and this Contract by the Operator in conducting Joint Operations in any Exploitation Concession shall be borne by the Parties in proportion to their respective Percentage Interest in said Exploitation Concession.

More Definitions of Exploitation Concession

Exploitation Concession means any Exploitation Concession granted to KOSMOS and to ONHYM, pursuant to the Hydrocarbon Code and to this Agreement and which derives from the Exploration Permits;

Exploitation Concession means the Concession granted under the Geological and Mining Law for the Exploitation of Natural Gas and Oil of the type referred to in Article 15.2 of the Geological and Mining Law. 1.2.5 "Concession Effective Date" as to any particular Concession means the date on which the Minister signs the Concession.

Exploitation Concession means the Concession granted under the Geological and Mining Law for the Exploitation of Gold of the type referred to in Article 15.2 of the Geological and Mining Law.