Development and Production. 1. Within the scope of exploration (prospection and research activities), whenever the Concession Holder establishes the existence of an economically viable oil field, it must develop the respective preliminary demarcation and the general working plan for development and production, which must include the closing plan and the return of the area to its original or equivalent status, and the respective schedule for execution, submitting them to DGEG for discussion, according to the terms of Articles 37 to 39 of DL 109/94.
Development and Production. The Developer will develop and produce the Work described in Appendix A within the timelines described in Appendix A.
Development and Production. 2.1 TARGACEPT hereby engages SIEGFRIED to undertake DEVELOPMENT and/or PRODUCTION as set forth in sub-appendices to this AGREEMENT from time to time, upon the terms and conditions set forth in this AGREEMENT, and SIEGFRIED hereby accepts such engagement.
Development and Production. 7.1 If the Contractor considers a discovery to be a Commercial Discovery, it shall, within six (6) months from the completion of the appraisal works mentioned in Article 6.4 above, notify to the Petroleum Operations Management Committee referred to in Article 9.2 below the development plan concerning such Commercial Discovery.
Development and Production. Plan has the meaning attributed to it in Article 5.5.1.
Development and Production. Contractor shall submit for review and approval a Work Program and Budget for each Commercial Field for each Calendar Year to the Operations Committee at least ninety (90) Days prior to the commencement of such Calendar Year. Notwithstanding the foregoing, for activities related to Exploration Operations conducted during a Development and Production Period shall be submitted in accordance with Sub-article 8.3.1.
Development and Production. 5.1 If the Contractor in its report under Article 4.6.5 considers that a Discovery is a Commercial Discovery, it shall submit to the Minister, within six (6) months following the date of submission of said report, an application for an Exploitation Licence accompanied by a detailed Development and Production Plan for the Field relating to said Discovery, specifying inter alia:
Development and Production. It is agreed and acknowledged by the Parties that if a commercially viable deposit is delineated on the Properties, the Joint Venture has the right to proceed expeditiously to develop a mine or mines on the Property or Properties in accordance with the relevant law and regulations of the PRC.
Development and Production. SECTION TEN – PRODUCTION PHASE Start and Duration 10.1. The Production Phase shall begin on the date of execution of this Agreement. Data Collection
Development and Production. The first sentence of the third paragraph of Article 7.3 shall be amended by deleting the phrase “its notice given” and inserting in its place the following phrase “the issuance of an Arrêté by the Minister”. The second sentence of Article 7.8 shall be deleted in its entirety and replaced by the following: Within six (6) months following the notification to the Contractor by the Minister, the Contractor shall inform the Minister of the plan of unitisation relating to the commercial discovery, which plan of unitisation shall be prepared together with the contractor of the adjacent contract area based on the principles and standards recognised internationally in the petroleum industry. In the event the Contractor and the contractor of the adjacent contract area fail to submit a plan of unitisation within the said timeframe, the Contractor and the contractor of the adjacent contract area shall refer any dispute relating to the said plan of unitisation to arbitration in accordance with the arbitration provisions of Article 27, or to any other method agreed between the contractors. In such case, Contractor’s obligation under this article 7.8 shall be suspended pending conclusion of the said arbitration. In the concern to harmonise, it is desirable to include a similar provision in any agreement relating to a subsequent contract area with a different contractor.
