LICENSE AND EXPLORATION PERIOD. 3.1 The Exploration Period shall begin on the Effective Date and shall consist of three (3) Exploration Phases, each phase not exceeding three (3) Contract Years, for a total period not exceeding seven (7) consecutive Contract Years unless extended pursuant to the terms of this Contract.
LICENSE AND EXPLORATION PERIOD. 3.1 The Contractor shall have the right to explore for Petroleum within the Contract Area. The Contractor shall be granted the License to explore the Contract Area in accordance with the provisions of this Contract.
LICENSE AND EXPLORATION PERIOD. 3.1 The Exploration Period shall begin on the Effective Date and shall be for a period not exceeding seven (7) consecutive Contract Years in case of Contract Areas in onland and shallow water and not exceeding eight
LICENSE AND EXPLORATION PERIOD. 3.1 The Exploration Period shall begin on the Effective Date and shall consist of two Exploration Phases. First Exploration Phase shall be for a period not exceeding four (4) Contract Years and second Exploration Phase shall be for a period not exceeding three (3) Contract Years provided that in case of deepwater and Frontier Area blocks, first Exploration Phase will have additional one (1) Contract Year i.e. a total first Exploration Phase not exceeding five (5) Contract Years. In case of onland and shallow water blocks, the Exploration Period shall not exceed seven (7) consecutive Contract Years and eight (8) consecutive Contract Years in case of Deepwater Areas and Frontier Areas unless extended pursuant to the terms of this Contract. (
LICENSE AND EXPLORATION PERIOD. 3.1 The Exploration Period shall begin on the Effective Date and shall consist of three (3) Exploration Phases, each phase not exceeding three
LICENSE AND EXPLORATION PERIOD. 3.1 The Exploration Phase (Phase I), the Pilot Assessment, Market Surveys and Commitments Phase (together called Phase II), shall be the License period.
