Relinquishment of Areas. In case of use of pre-existing xxxxx or infrastructure, the Contracted Parties shall undertake, with respect to them, the responsibilities provided for in the Agreement and in the Applicable Laws and Regulations. In case of a Field, the plan for decommissioning and abandonment and the mechanisms to make the necessary funds available shall be provided for in the respective Development Plan and revised from time to time throughout the Production Phase through the Annual Budget and Work Programs. The cost of decommissioning and abandonment of the Operations shall be established in order to cover the activities of permanent abandonment of xxxxx, decommissioning and removal of lines and facilities, and rehabilitation of areas, under the Applicable Laws and Regulations.
Relinquishment of Areas. 23.3. In case of use of pre-existing xxxxx or infrastructure, the Contractors shall undertake, with respect to them, the responsibilities provided for in the Agreement and in the Applicable Laws and Regulations.
Relinquishment of Areas. 6.1 The Contractor must relinquish the Contract Area or part thereof in accordance with the following:
Relinquishment of Areas. ONE (1). The Contractor must relinquish part of the Contract Area at the end of each sub-period of exploration as follows: For the First Sub-Period, at least 0.8% (zero point eight percent) of the Contract Area, equivalent to two lots of 2 minutes x 2 minutes each, corresponding to an area measuring 2,666 (two thousand six hundred sixty six) hectares. For the Second Sub-Period, at least 1.2% (one point two percent) of the Contract Area, equivalent to four lots of 2 minutes x 2 minutes each, corresponding to an area measuring 3.999 (three thousand nine hundred ninety nine) hectares. For the Third Sub-Period, at least 4.8% (four point eight percent) of the Contract Area, equivalent to twelve lots measuring 2 minutes x 2 minutes each, corresponding to an area measuring 15,996 (fifteen thousand nine hundred ninety six) hectares.
Relinquishment of Areas. 7.1 Where, pursuant to a request by the Concessionaire under Articles 3.5 (a) and (b), the Exploration Period is extended at the end of the Initial Exploration Period or subsequently, the Concessionaire shall relinquish its rights:
Relinquishment of Areas. 5.1 If TAKT does not go into the second exploration phase, then it must relinquish all areas with the exception of the extraction areas on the expiry of the first exploration period.
Relinquishment of Areas. Relinquishment at the end of the 5th (fifth) year of at least 50% (fifty percent) of the area of the concession may be distributed in an unequal manner among the 4 (four) concessions, to be proposed and subject to authorization, thus the relinquishment of at least 25% (twenty-five percent) of the concession area is therefore mandatory per concession.
Relinquishment of Areas. 5.1 Subject to Clauses 19 and 20, the duration of the OPL relating to this Contract shall be for a period of eight (8) years from the Effective Date.
Relinquishment of Areas. Prior to the end of phase one of the initial period of the petroleum prospecting licence issued to the Contractor under Article 3.1, the Contractor shall relinquish at least twenty-five percent If prior to the end of the second phase of the initial period of the petroleum prospecting licence, an application is made by the Contractor for renewal of the licence under section 24
Relinquishment of Areas. 5.1 If prior to the end of the initial period of the Petroleum Prospecting Licence issued to the Contractor under Article 3.1, an application is made by the Contractor for renewal of the Licence under section 24 (1) of the Act, the Contractor shall relinquish at the end of the initial period an area equal to at least twenty percent (20%) of the original Contract Area less the exclusions provided for in Article 5.
