Exploitation Area. It is the portion of the contracted area in which one or more commercial fields are allocated, as per the provisions of Clause 9 (Section 9.3) hereof. The area of each commercial field shall comprise the sheathing of the vertical surface of the deposit or deposits that make it up and that are defined by the Ministry of Mines and Energy as per Decree 3229 of 11 November 2003, as amended or replaced.
Appears in 1 contract
Sources: Exploration and Exploitation Agreement (Gran Tierra Energy Inc.)
Exploitation Area. It is the portion of the contracted area in which Contracted Area where one or more commercial fields are allocated, located as per the provisions of set forth in Clause 9 (Section section 9.3) hereofof this contract. The area of each commercial field Commercial Field shall comprise the sheathing boundary of the vertical projection on the surface of the deposit reservoir or deposits reservoirs that make form part of it up and that are have been defined by the Ministry of Mines and Energy as per Energy, in conformity to Decree 3229 of 11 November 11, 2003, as amended or replacedwith norms that amend or supersede it.
Appears in 1 contract
Sources: Hydrocarbon Exploratory and Production Contract (Harken Energy Corp)