Examples of Development and Production Period in a sentence
The Contractor is, subject to the provisions of the Agreement, authorised to conduct the Production within the Contract Area during the Development and Production Period.
The Development and Production Period for the offered blocks would be a maximum of 20 (twenty) years from the grant of Mining Lease (“ML”) or till economic life of the field as per submitted development plan, unless the Contract is terminated earlier in accordance with its terms, but may be extended upon mutual agreement between the parties for a further period of 10 (ten) years or such other shorter period as mutually agreed based on the estimated remaining economic life of the Block.
During the Development and Production Period Contractor shall bear all costs of the Operating Company related to the conduct of internal inspections, inventories, audits, reorganisations, structural changes and the like and such costs shall not be Cost Recoverable unless the conduct of such internal inspections, inventories, audits, reorganisations, structural changes and the like is approved by the Steering Committee.
The Development and Production Period shall begin from the date of the Notice of Discovery and its Commerciality submitted by Contractor to SOCAR and shall continue until thirty (30) years after the date of such Notice of Discovery and its Commerciality of such Discovery and subsequent Discoveries.
Hər İşlənmə və hasilat dövrü The Development and Production Period in respect of each Development Area shall begin from the date of SOCAR’s approval of the Development Programme for such Development Area and shall continue for twenty-three (23) years after such date.