Common use of Exploitation Period Clause in Contracts

Exploitation Period. Is, regarding each Exploitation Area, the term of up to twenty four (24) years and its extension, if any, as of the date of Declaration of Commerciality of the Commercial Field through which the CONTRACTOR must carry out the Development and Production operations.

Exploitation Period. Is, regarding With regard to each Exploitation Area, it is the term of up to twenty four (24) years and its extensiontheir extensions, if any, as of effective since the date of Declaration Statement of Commerciality of the appropriate Commercial Field through Field, during which the THE CONTRACTOR must carry out shall perform the Development and Production operationsOperations.