EXPLORATION WORK PROGRAMME. (a) Contractor shall present to the Minister for approval with respect to each Calendar Year during the Exploration Period an annual Work Programme and budget for the Contract Area. The Work Programme and budget shall be deemed approved as submitted if the Minister does not respond within sixty (60) days of receipt. The first such Work Programme and budget shall be submitted within thirty (30) days after the Effective Date and each subsequent Work Programme and budget at least sixty (60) days before the beginning of the relevant Calendar Year. (b) Within thirty (30) days following the end of each Quarter of the Calendar Year, Contractor shall provide to the Minister a status report specifying the work and Work Units carried out during that Quarter, the approximate costs incurred during such period and any changes that Contractor plans to make to the Work Programme and budget as a result of operations to date in that Calendar Year. The status report corresponding to the fourth Quarter of each Calendar Year shall also contain an annual summary of the quarterly reports for that Calendar Year. 14.2 In respect of the retained Exploration area approved under Article 6, the Appraisal Area under Article 13.2 (b) (i) and the Assessment Area under Article 13.3 (b)(i), the provisions of 14.1(b) shall apply. 14.3 Subject to Contractor's obligations under Article 7 and the Minister's prior approval, Contractor may amend the Work Programme and budget approved under Article 14.1.The amended Work Programme and budget shall be approved by the Minister.
Appears in 2 contracts
Sources: Deep Water Production Sharing Contract, Deep Water Production Sharing Contract