Minimum Exploration Work Requirements definition

Minimum Exploration Work Requirements means the compulsory minimum work requirements (including both work activities and expenditure) for each Period of Exploration, as set out in Articles 4.3, 4.4 and 4.5;
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Minimum Exploration Work Requirements means the compulsory minimum work requirements (including both work activities and expenditure) for each Period of Exploration, as set out in the petroleum contract;
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Examples of Minimum Exploration Work Requirements in a sentence

  • For the avoidance of doubt, expenditure of the minimum expenditure amount alone shall not be taken as satisfying the Minimum Exploration Work Requirements.

  • If the value at that time is more than the value given as Security under paragraph 2.2 (a) (iv) then Contractor shall provide the Ministry with additional Security in such form and with such content as is satisfactory to the Ministry for the performance of the Contractor's Minimum Exploration Work Requirements under the Work Programme and Budget in that Period.

  • The Contractor may propose to the ANP alterations to the work activities in the Minimum Exploration Work Requirements, together with a supporting technical report, and the ANP may approve those alterations where the revised Minimum Exploration Work Requirements will result in an amount of financial expenditure which is equal to or above the minimum expenditure required for the corresponding Period, as set out in Sections 4.4 to 4.6, and is, in the reasonable opinion of the ANP, technically justified.

  • If the value at that time is more than the value given as Security under paragraph 2.2 (a) (iii) then Contractor shall provide the ANP with additional Security (in form and content satisfactory to the ANP) for the performance of the Contractor's Minimum Exploration Work Requirements under the Exploration Work Programme and Budget in that Period.

  • For the avoidance of doubt, the Contractor must fulfil the minimum work obligations described for each Period, expenditure of the minimum expenditure amount alone shall not be taken as satisfying the Minimum Exploration Work Requirements.