Common use of Additional Exploration Activities Clause in Contracts

Additional Exploration Activities. Once the Exploration Period ends, after the reduction and return of the area referred to in subparagraphs (a), (b) and (c) of Article 7.1 and in the event the Contractor determines the possibility of existence of Hydrocarbons on a subsoil structure or stratigraphic trap located in the Contract Area in a different depth on any Development Area, the Contractor shall send notice to CNH and may submit a new Exploration Plan in order to be approved by CNH with the purpose of carrying out the Petroleum Activities deemed convenient in such subsoil structure or stratigraphic trap including the corresponding Work Program and Budget. The terms and deadlines for the approval of CNH of the Exploration Plan, Work Program and Budget shall be subject to the provisions in Articles 4, 10 and 11. The aforementioned without prejudice of the reduction and return of the area referred in subparagraph (d) of Article 7.1.

Additional Exploration Activities. Once the Exploration Period ends, after the reduction and return of the area referred to in subparagraphs (a), (b) and (c) of Article Article 7.1 and in the event the Contractor determines the possibility of existence of remaining Hydrocarbons on a subsoil structure or stratigraphic trap located in the Contract Area in a different depth on any Development Area, the Contractor shall send notice to CNH and may submit present a new Exploration Plan in order to be approved by CNH with the purpose of carrying out the Petroleum Activities deemed convenient in such subsoil structure or stratigraphic trap including the corresponding Work Program and Budget. The terms Terms and deadlines for the approval of CNH of the Exploration Plan, Work Program and Budget shall be subject to observe the provisions in Articles 4, 10 and 11. The aforementioned without prejudice of the reduction and return of the area referred in subparagraph (d) of Article 7.1.