Long Duration Test definition
Long Duration Test well test carried out during the exploration phase, with the sole purpose of obtaining data and information about the Reservoirs, with a total flow time of more than seventy-two (72) hours.
Long Duration Test means test in the ▇▇▇▇▇ done during the Exploration Phase, with the exclusive purpose of obtaining data and information for knowledge of the reservoirs, with total t ime superior flow at 72 ( seventy- two) hours. ---------------------------- “Value to be recovered” means the amount equal to the multiplication of the non- recoverable amount after reallocation by the value of the Barrel in Block for which the reallocation has been performed, as provided for in paragraph 13 .26 . ------------------------------------- “Value of the Contract” means, before the revision, the Initial Value of the Contract and, after the Revision, the Revised Value of the Contract.----------------------------- “Initial Value of the Contract” means the value to be paid by the Assignee due to the execution of the Contract to Assignor negotiated by the Parties considering the inputs of the technical evaluation reports provided for in Section 3 of Law No. 12 .276, of 2010 . ----------------------------------------------------------
Long Duration Test means test in the wells done during the Exploration Phase, with the exclusive purpose of obtaining data and information for knowledge of the reservoirs, with total time superior flow at 72 (seventy-two) hours. “Value to be recovered” means the amount equal to the multiplication of the non-recoverable amount after reallocation by the value of the Barrel in Block for which the reallocation has been performed, as provided for in paragraph 13.26. “Value of the Contract” means, before the revision, the Initial Value of the Contract and, after the Revision, the Revised Value of the Contract. “Initial Value of the Contract” means the value to be paid by the Assignee due to the execution of the Contract to Assignor negotiated by the Parties considering the inputs of the technical evaluation reports provided for in Section 3 of Law No. 12.276, of 2010.
Examples of Long Duration Test in a sentence
If the Discovery Assessment Plan contemplates the performance of a Long Duration Test, the Consortium Members shall request to ANP a specific authorization to do so.
The execution of the Long Duration Test without the utilization or reinjection of the Natural Gas will be limited to a period of 180 (one hundred and eighty) days, except in exceptional cases, at the exclusive discretion of ANP.
The Oil Cost related to the Long Duration Test will be recovered in the Production Phase.