Exploration Programme. (a) Subject to the provisions of the Act and thisArticle, in discharging of its obligation to carry out Exploration Operations in the Contract Area, the Contractor shall, during the periods into which Exploration Operations are divided hereunder, carry out the minimum work described and spend not less than the total minimum expenditure, if any, specified in subarticle (b) of this Article. The fulfillment of any work obligation shall relieve Contractor of the corresponding minimum expenditure obligation, but the fulfillment of any minimum expenditure obligation shall not relieve Contractor of the corresponding work obligation.
Appears in 1 contract
Sources: Production Sharing Agreement
Exploration Programme. (a) Subject to the provisions of the Act and thisArticlethis Article, in discharging of its obligation to carry out Exploration Operations in the Contract Area, the Contractor shall, during the periods into which Exploration Operations are divided hereunder, carry out the minimum work described and spend not less than the total minimum expenditure, if any, specified in subarticle paragraph (b) of this Article. The fulfillment of any work obligation shall relieve Contractor of the corresponding minimum expenditure obligation, but the fulfillment of any minimum expenditure obligation shall not relieve Contractor of the corresponding work obligation.
(i) The Initial Exploration Period Description of minimum work programme:
Appears in 1 contract
Sources: Petroleum Agreement