Initial Commercial Production definition

Initial Commercial Production means the date on which the first regular shipment of Crude oil or Natural Gas, or both, is made under a program of regular production and sale.
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Initial Commercial Production means the first date upon which regular production of Crude Oil from the first Development Area is transported from such Development Area for the purpose of sale, export, or processing at a refinery.
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Initial Commercial Production means production from the reference well has become stable and is being delivered and sold to customers on a regular basis.
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Examples of Initial Commercial Production in a sentence

  • No later than sixty (60) Days prior to the Date of Initial Commercial Production and thereafter before the beginning of each Calendar Quarter, Contractor shall present a production forecast to Staatsolie.

  • If Crude Oil available to the Government and Staatsolie pursuant to Sub-Article 20.1 is insufficient for fulfilling the Domestic Supply Requirement, at any time, at least twelve (12) Calendar Months after the Date of Initial Commercial Production, Staatsolie may request in writing that Contractor make available a quantity of Crude Oil to which Contractor is entitled hereunder.

  • Not later than one-hundred and twenty (120) Days or any longer period to be mutually agreed by Parties prior to the anticipated Date of Initial Commercial Production, the Parties shall enter into supplementary contracts concerning Crude Oil transfer of title, lifting procedures and delivery, lifting and tanker schedules, loading conditions, Crude Oil metering, statistics and classification of the lifting responsibility.

  • Chairman Ortega asked for some estimates for all the repairs from the Emergency Repair Fund.

  • At a reasonable time prior to the commencement of Initial Commercial Production, the CONTRACTOR shall submit for consideration of the DEPARTMENT a procedure for scheduling tanker liftings from the agreed upon point(s) of export and shall negotiate with the DEPARTMENT acceptable provisions relating to underlifting and overlifting of production.

  • Not later than one-hundred and twenty (120) Days prior to the anticipated Date of Initial Commercial Production, the Parties shall enter into supplementary contracts concerning Crude Oil transfer of title, lifting procedures and delivery, lifting and tanker schedules, loading conditions, Crude Oil metering, statistics and classification of the lifting responsibility.

  • I agree with the submissions of Learned Counsel, Mr. Bennett that since West Bay and US Capital were not in Initial Commercial Production there can be no chargeable income and hence no deductions.

  • The Jama’are River is uncontrolled as plans to construct a dam at Kafin Zaki have been put on halt.During the wet season, particularly, in the middle and lower part of the basin, (where slopes are very gentle) as discharged within the river rise, adjacent areas (within the floodplains) begin to be inundated, thereby forming floodplain wetlands.

  • The expenses incurred for taking such risk cannot be imposed on other Production Sharing Agreements where there is Initial Commercial Production without specific provisions in the Act.

  • Exhibit “M.O. 2” shows that the Appellant deducted expenses of its joint venture operation with US Capital Belize and West Bay Belize Limited not in Initial Commercial Production, from the taxable income of its joint venture with Belize Natural Energy.

Related to Initial Commercial Production

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Commencement of Commercial Production means the first occurrence of Commercial Production in an Area.

  • Commercial Product means any such product as defined in FAR 2.101.

  • Commercial project means any project, including, but not

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • pre-commercial procurement means the procurement of research and development services involving risk-benefit sharing under market conditions, and competitive development in phases, where there is a clear separation of the research and development services procured from the deployment of commercial volumes of end-products;

  • Commercial property means property formerly or currently used primarily for business, retail, governmental or professional purposes.

  • Agricultural production means the commercial production of food or fiber.

  • Commercial Launch means the initial First Commercial Sale of a Product in the Territory.

  • Initial Development Plan has the meaning set forth in Section 3.2(b).

  • Marijuana products means concentrated marijuana products and marijuana products that are comprised of marijuana and other ingredients and are intended for use or consumption, such as, but not limited to, edible products, ointments, and tinctures.

  • Marijuana product means marijuana as defined in 50-32-101 and marijuana-infused products

  • Phase 4 Clinical Trial means a Clinical Trial of a Product conducted after Regulatory Approval of such Product has been obtained from an appropriate Regulatory Authority, which trial is (a) conducted voluntarily by a Party to enhance marketing or scientific knowledge of the Product, or (b) conducted due to a request or requirement of a Regulatory Authority.

  • Nuclear fuel cycle-related research and development activities means those activities which are specifically related to any process or system development aspect of any of the following: - conversion of nuclear material, - enrichment of nuclear material, - nuclear fuel fabrication, - reactors, - critical facilities, - reprocessing of nuclear fuel, - processing (not including repackaging or conditioning not involving the separation of elements, for storage or disposal) of intermediate or high-level waste containing plutonium, high enriched uranium or uranium-233, but do not include activities related to theoretical or basic scientific research or to research and development on industrial radioisotope applications, medical, hydrological and agricultural applications, health and environmental effects and improved maintenance.

  • Edible cannabis product means cannabis product that is intended to be used, in whole or in part, for human consumption, including, but not limited to, chewing gum, but excluding products set forth in Division 15 (commencing with Section 32501) of the Food and Agricultural Code. An edible cannabis product is not considered food, as defined by Section 109935 of the Health and Safety Code, or a drug, as defined by Section 109925 of the Health and Safety Code.

  • Collaborative drug therapy management means participation by an authorized pharmacist and a physician in the management of drug therapy pursuant to a written community practice protocol or a written hospital practice protocol.

  • Development Application means the development application identified in Item 5 of Schedule 1 and includes all plans, reports models, photomontages, material boards (as amended supplemented) submitted to the consent authority before the determination of that Development Application.

  • Marijuana producer means a person who produces marijuana in this state.

  • Development Site means any parcel or lot on which exists or which is intended for building development other than the following:

  • Commercial Sale means for a given product and country the sale for value of that product by a Party (or, as the case may be, by an Affiliate or permitted sublicensee of a Party), to a Third Party after regulatory approval (if necessary) has been obtained for such product in such country.

  • Phase I Clinical Trial means a clinical trial conducted in healthy humans or patients, which clinical trial is designed to establish the safety, drug-drug interactions and/or pharmacokinetics of an investigational drug given its intended use, and to support continued testing of such drug in Phase II Clinical Trials.

  • Commercialization or “Commercialize” means activities directed to marketing, promoting, research and development as required, manufacturing for sale, offering for sale, distributing, importing or selling a product, including sub-licensing or sub-contracting of these activities.

  • Phase I Clinical Study means a human clinical study of a product, the principal purpose of which is a preliminary determination of safety in healthy individuals or patients, as described in 21 C.F.R. 312.21(a).

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • Approved clinical trial means a phase I, phase II, phase III, or phase IV clinical trial that is conducted in relation to the prevention, detection, or treatment of cancer or other life-threatening disease or Condition and is described in any of the following:

  • Agricultural product means the products listed in Annex I to the Treaty, except fishery and aquaculture products listed in Annex I to Regulation (EU) No 1379/2013 of the European Parliament and of the Council of 11 December 2013;