Minimum Work Program definition

Minimum Work Program means the Work Units indicated in Annex 5, which the Contractor shall carry out during the Initial Exploration Period, it being understood that the Minimum Work Program is only a minimum work program and that the Contractor may carry out additional Surface Reconnaissance and Exploration, Exploration and Appraisal activities during the Exploration Period.
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Minimum Work Program has the meaning ascribed to it in Article ‎3.1.
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Minimum Work Program means the Work Units set forth in Annex 6, which the Contractor shall carry out during the Appraisal Period, it being understood that the Minimum Work Program is only a minimum work program and that the Contractor may carry out additional Appraisal activities during the Appraisal Period.
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Examples of Minimum Work Program in a sentence

  • Once a group of prospective board members was identified, the board met to start the process of incorporating the school, and completing the charter application.

  • These projects are at various stage of implementation and work is being executed to meet the target as per Minimum Work Program (MWP).

  • The Initial Performance Guarantee shall cover the Minimum Work Program and the Minimum Program Increase.

  • CNPCIT is the operator and funds nearly 100% of TG Niger’s 20% share of costs for a Minimum Work Program.

  • In the event that during the Initial Exploration Period, the Contractor carried out additional Work Units to those provided in the Minimum Work Program, the Contractor may request the recognition of such additional Work Units as part of the Additional Exploration Period commitment.

  • The CNH may deny approval of plans if they: (i) do not comply with the Minimum Work Program or the Minimum Program Increase, or the work commitments for the First Additional Exploration Period or Second Additional Exploration Period, or (ii) do not conform to the Industry Best Practices and the Applicable Laws.

  • The Contractor shall be required to complete at least the Minimum Work Program during the Initial Appraisal Period.

  • The CNH shall be entitled to draw on the Initial Performance Guarantee to collect any unliquidated damages for failure to perform the Minimum Work Program and Minimum Program Increase during the Initial Exploration Period.

  • Balance of Minimum Work Program Commitment (MWP) by OIL under Production Sharing Contracts (PSCs) entered for NELP Blocks with Govt.

  • Blocks MB-OSN-2004/1 & MB-OSN-2004/2 were relinquished during the year on completion of Minimum Work Program (MWP) under exploration phase as no presence of hydrocarbons was observed in the drilled wells.


More Definitions of Minimum Work Program

Minimum Work Program. The minimum work program provides for drilling of 13 xxxxx (8 vertical and 5 horizontal side rill holes) and 1,500 km2 2D seismic surveys over 5 years. Compensation Hydrocarbons and Revenue Hydrocarbons Produced Hydrocarbons – all produced hydrocarbons Cost Hydrocarbons – up to 60% of Produced hydrocarbons Revenue Hydrocarbons = Produced hydrocarbons – (minus) Cost hydrocarbons The share of the State in the Profit production stage depends on the production volume and the real rate of return – distribution principles are determined by provisions of the PSA. Oleska PSA Advantages General Advantages • a long-term contract (50 years with the right of зprolongation), the terms of which are stable and guaranteed by the State (of Ukraine) • guarantees of free oil and gas export at market price • a guaranteed access to the gas transportation system of Ukraine • State support, including at the administrative level (the state provides issuance of all necessary approvals, quotas, special permits and licenses, mining lease acts, documents for land and other permission documents for investors) • stabilization clause – protection of PSA projects from negative amendments in the legislation (including additional tax/customs burden) • possibility of consideration ofdisputes in international arbitration, not in Ukrainian courts; waiver of the State from sovereign immunity. Financial and Fiscal Advantages • all taxes are replaced by production sharing (except for profit tax, VAT and subsoil use fee) • subsoil use fee – 1,25% for gas, 2% for oil and condensate • products are sold at market prices (regulated tariff shall not be applied) • export-import transactions are exempt from export/import charges and fees (excluding excise). VAT shall not be charged or it is calculated at zero rate • no taxes on income repatriation • automatic VAT refund • amortization of capital expenditures shall not be applied. All costs are recoverable from the date of incurring • non-refunded compensation expenses are subject to indexation Art. 27 of the Law "On Production Sharing Agreements", art. 340 of the Tax Code of Ukraine, art. 8 of the Law "On Regime of Foreign Investment" contain the so-called "stabilization clause", in compliance to which: - new legislation that worsens business conduction conditions shall not be applied to Investors as per PSA • (Rate = LIBOR + 5% per annum). Legal Guarantees of Stability - Improved legislation shall apply from the date of its entry into force Licensing A...
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Minimum Work Program. Means the statement detailing the minimum commitment of Operating Services to be performed at the Agreement Area during the first three (3) Agreement Years, including the corresponding Budget, as established in Appendix "C".
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Minimum Work Program the Company's work program, substantially in the form of Schedule 10 attached hereto or otherwise as reasonably satisfactory to IFC, which will include: (a) drilling, completion and testing of at least five development wellx xx the Ninotsminda field, (b) workovers on the Ninotsminda and West Rustavi fields, (c) equipment and facilities required for the increase of oil and gas production on the Ninotsminda and West Rustavi fields, and (d) seismic acquisition and interpretation required specifically for the Ninotsminda field and for the planning of workovers on the West Rustavi field. The Minimum Work Program shall exclude any activities relating to: (x) the assessment and exploration of the Manaxx xxxspect, (y) drilling and exploration work in the West Rustavi area other than the workovers and related activities described (b) above, and (z) any activities funded by the Company which are carried out for any other parties on a reimbursable basis. The Minimum Work Program shall also exclude any activities carried out prior to January 1, 1998, and any activities subsequent to the successful completion and testing of five development wellx xx the Ninotsminda field (all of which will have been drilled after January 1, 1998). For the purposes of assessing the cost of the Minimum Work Program, expenditures which were committed to by the Company prior to January 1, 1998 shall be excluded. "NOC Administration Overhead Charges" all payments made by the Company for services related to the regular operating expenses of the Project that are not specifically allowable and recoverable under Section II of Annex C of the PSC, except for payments to GBOC for regular operating expenses of the Project, payments directly required (i.e. excluding payments permitted) by the other Transaction Documents, and payments directly required under the Makoil License Transfer Agreement; "NOC Direct Overhead Charges" all payments made by the Company for services related to the regular operating expenses of the Project that are specifically allowable and recoverable under Section II of Annex C of the Production Sharing Contract between the Company and Georgian Oil ("PSC"), except for payments to GBOC for regular operating expenses of the Project, payments directly required (i.e. excluding payments permitted) by the other Transaction Documents, and payments directly required under the Makoil License Transfer Agreement;
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Minimum Work Program means the work described in Article 3.2 of this Agreement for each Renewal Period undertaken with respect to the Badin-II Revised Area.
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Related to Minimum Work Program

  • Work Program means a program of work reasonably acceptable to both parties in respect of a particular Property, contained in a written document setting out in reasonable detail;

  • Work Programme means the document adopted by the Commission for the implementation of the specific programme28 in accordance with its Article 12 or the equivalent document in content and structure adopted by a funding body.

  • Annual Work Plan means each annual work plan, together with the related budget, for the Project approved by the Association pursuant to the provisions of Section I.B.3 of Schedule 2 to this Agreement.

  • Work Progress Schedule means the continually updated time schedule prepared and monitored by Contractor that accurately indicates all necessary appropriate revisions as required by the conditions of the Work and the Project while maintaining a concise comparison to the Baseline Schedule.

  • Work Plan means a plan that describes each individual activity to be conducted to complete eligible activities and the associated costs of each individual activity.

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

  • Training program means an NCA-approved Iowa college, the Iowa law enforcement academy or an Iowa hospital approved by the department to conduct emergency medical care training.

  • main phase employment and support allowance means an employment and support allowance where the calculation of the amount payable in respect of the applicant includes a component under section 2(1)(b) or 4(2)(b) of the Welfare Reform Act 2007 except in Part 1 of Schedule 1;

  • Continuous Improvement Plan means a plan for improving the provision of the Goods and/or Services and/or reducing the Charges produced by the Supplier pursuant to Framework Schedule 12 (Continuous Improvement and Benchmarking);

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • Improvement Plan means the plan required by the Authority from the Supplier which shall detail how the Supplier will improve the provision of the Goods and/or Services pursuant to Clause 29.1.1 (Authority Remedies);

  • Work ethic camp means an alternative incarceration program

  • Work/ works means work / works to be executed in accordance with the contract.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Work Products are defined as all materials, tangible or not, created in whatever medium pursuant to this Agreement, including without limitation publications, promotional or educational materials, reports, manuals, specifications, drawings and sketches, computer programs, software and databases, schematics, marks, logos, graphic designs, notes, matters and combinations thereof, and all forms of intellectual property.

  • Family planning services means services for clients of child bearing age (including minors who can be considered to be sexually active) who desire such services and that are intended to prevent pregnancy or otherwise limit family size.

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;

  • Quality Assurance Program means the overall quality program and associated activities including the Department’s Quality Assurance, Design-Builder Quality Control, the Contract’s quality requirements for design and construction to assure compliance with Department Specifications and procedures.

  • PACE program means a program implemented by a municipality to stimulate energy efficiency and renewable energy projects in conformity with Act 270.

  • Mobile crisis outreach team means a crisis intervention service for minors or families of minors experiencing behavioral health or psychiatric emergencies.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • 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.

  • Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

  • Utilization review plan or "plan" means a written procedure for performing review.

  • Development Plans means a coherent set of operations defined and financed exclusively by the OCTs in the framework of their own policies and strategies of development, and those agreed upon between an OCT and the Member State to which it is linked;

  • Basic health plan means the plan described under chapter