SOLE RISK OPERATIONS. 1. Any party may undertake petroleum operations at sole risk (hereinafter referred to as "sole risk project") in a participation area, subject to the provisions of this Article.
SOLE RISK OPERATIONS. 18.1 A Party may propose that a project which is not adopted by the management committee be carried out as a sole risk project. Sole risk development shall take place in accordance with the provisions of Article 19.
SOLE RISK OPERATIONS. Any Party may undertake Petroleum Operations at sole risk ("sole risk project") in a Participation Area, subject to the provisions of this clause. The following types of sole risk project may be proposed: the drilling of a Well or the deepening, side-tracking, completing, plugging back, testing or reworking of an existing Well drilled for the Joint Account of the Parties, in order to test a formation in which no jointly-owned Well has been completed as a Well producing or capable of producing Petroleum; the installation of Production and transportation facilities. The conduct of a project in a Development Area may not be the subject of a sole risk notice under this clause until after it has been proposed in complete form to the Operating Committee for consideration pursuant to clause 4. hereof and has not been approved within the period therein provided. In the event that such project fails to obtain the requisite approval of the Operating Committee, then any Party may serve notice on the other Parties of its intention to carry out that project at sole risk. The other Parties may give counter-notice that they wish to participate in the project within [60] days after receipt thereof but, where a drilling rig is on the location and has not been released, the period is reduced to [72] hours after receipt thereof. The periods set forth in this sub-section shall be extended for any period of time mutually agreed by the Parties as necessary or desirable for acquiring or developing additional information on the sole risk project. If all the other Parties elect to participate in the project identified in the proposing Party's notice within the period thereof provided, such project is considered as being approved by the Operating Committee and the provisions of clause 4.8 of this Participation Agreement shall apply. In the event that less than all the Parties elect to participate in the project, the Parties which elected to participate ("sole risk Parties") shall be entitled to have the sole risk project carried out. The interest of each sole risk Party in a sole risk project shall be in proportion to its Participating Interest in this Participation Agreement, or in such other proportion as the sole risk Parties may agree. Any sole risk project shall be carried out at the sole risk, cost and expense of the sole risk Parties in the proportion of their respective interests. A sole risk project shall be carried out by the Operator on behalf of the sole risk Parties un...
SOLE RISK OPERATIONS. 24.1 Subject to the provisions of this Part, a Party (“Proposing Party”) may give to the other Parties (“Receiving Parties”) and the Operator a notice (“Sole Risk Notice”) stating that Party’s intention to carry out a Sole Risk Operation and stating the proposed location, purpose and estimated cost of the Sole Risk Operation.
SOLE RISK OPERATIONS. Charges and credits referring to sole risk operations under Article 19 of Attachment A – Joint Operating Agreement shall be recorded in separate accounts. The provisions of this Attachment B – Accounting Agreement shall also apply to sole risk operations.
SOLE RISK OPERATIONS. 10.1 If during the exploration period, the Minister wishes to test additional reservoirs at the final depth agreed upon, or deepen the well and test deeper reservoirs than this final depth, the Government shall have the right, subject to the provisions of Article 10.4, to request the Contractor, by notification, to test certain additional reservoirs or to continue the drilling and test new reservoirs, at the sole risk of the Government and on behalf of the Government, until the Government's objectives have been reached as long as the request of the Government does not delay, hinder or interfere with the exploration and evaluation activities of the Contractor. The Government shall notify the Contractor as soon as possible before or during the drilling but under no circumstances after the Contractor has started the well completion or abandonment activities.
SOLE RISK OPERATIONS. Subject to Article 16.3, Sole Risk Operations shall only include and be undertaken in respect of any one or more of the following activities:
SOLE RISK OPERATIONS. 24.1 Subject to the provisions of this Part, a Party ("Proposing Party") may give to the other Parties ("Receiving Parties") and the Operator a notice ("Sole Risk Notice") stating that Party's intention to carry out a Sole Risk Operation and stating the proposed location, purpose and estimated cost of the Sole Risk Operation. 24.2 A Sole Risk Operation may comprise any of the following: (a) drilling an Exploration Well; (b) deepening, re-working, sidetracking, testing or completing an Appraisal Well or an Exploration Well; or (c) drilling an Appraisal Well.
SOLE RISK OPERATIONS shall comprehend those works for which the approval provided for in order to include them in an ANNUAL PROGRAMME was not obtained; said works may include without limitation: the drilling, completion, workover or deepening of a new well, or of any well that does not produce or which does not produce in convenient commercial quantities. The proposed SOLE RISK OPERATIONS shall not be carried out when they affect the rights of the non-participating PARTIES, disrupt the execution of JOINT OPERATIONS or affect, directly or indirectly, the proven reserves under the JOINT OPERATIONS.
SOLE RISK OPERATIONS. The provisions of this ACCOUNTING PROCEDURE shall be applicable to the Sole Risk Operations. The OPERATOR shall especially consider and comply with the following duties:
