Exploitation Permit definition

Exploitation Permit. Administrative Title for hydrocarbons, granted for a 20 years period renewable, for the purpose of exercising production activities.
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Exploitation Permit the exploitation permits (“Permis d’Exploitation”) entitling Kibali to exploit and mine for Metals in, on and under the Area as set out in Annex 3 to the Kibali JVA;
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Exploitation Permit upon granting of the permit: USD 250.000 per concession; • Renewal of the Exploitation of Permit: upon renewal of the permit: USD125.000 per concession; • Bonus of production: upon production of the first Barrel: USD1.000.000; • Bonus of production of the tenth millionth Barrel: at production of the tenth millionth Barrel: USD5.000.000.
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Examples of Exploitation Permit in a sentence

  • Each Exploitation Permit awarded to the “Contracting Party” by the “DRC” shall be granted for an initial period of twenty (20) years, renewable, from the date on which the award of the said Exploitation Permit is granted, unless at an earlier date and in accordance with Article 11 of this Contract, the “Contracting Party” elects to implement Abandonment Works and accordingly relinquish the Exploitation Permit.

  • The Ministry of Environment will give to this effect an Environmental opinion and will deliver an Exploitation Permit.

  • After examination of this report by the Operating Committee, if the “Contracting Party” establishes the commercial nature of the Deposit in accordance with its evaluation criteria, the “DRC” shall, at the “Contracting Party’s” request, grant an Exploitation Permit to the “Contracting Party”.

  • For additional developments under the same Exploitation Permit, unanimous agreement between the “DRC” and the “Contracting Party” should be sought.

  • The object of the contract is the granting by the Democratic Republic of the Congo to the Contracting Party of the exclusive rights of Prospecting and Exploration of hydrocarbons and the right to obtain the Exploitation Permit within the Block I.

  • The Permit Holders may fulfil their obligations under this clause 6 by transferring the Current Permits or the ERG Project Exploration Permits of which the Current Permits form part, to the Mining Party before any ERG Project Exploitation Permit is issued, subject to compliance with all applicable laws and conditions of grant of the relevant ERG Project Permits.

  • The object of the contract is the granting by the Democratic Republic of the Congo to the Contracting Party the exclusive rights of reconnaissance and exploration of hydrocarbons and the right to obtain the Exploitation Permit within the limits of ZERE.

  • After examination of this Report by the Operating Committee, if the Contracting Party establishes the commercial nature of the Deposit in accordance with its evaluation criteria, the DRC shall, at the Contracting Party’s request, grant an Exploitation Permit to the Contracting Party.

  • For complementary developments, under a same Exploitation Permit, a unanimous agreement must be sought by DRC and the Contractor.

  • However if such a transfer is not possible for whatever reason, then the Parties will implement such alternative arrangements in order for the Mining Party to have the sole benefit and control of the ERG Project Exploitation Permit including entering into new sub-leases in respect of the ERG Project Exploitation Permits on terms and conditions which are consistent with this Agreement.