Common use of FIELD DEVELOPMENT Clause in Contracts

FIELD DEVELOPMENT. 33 17.1 When all the Parties have given notice of their accession to a PDO, or when a development is adopted as a sole risk project pursuant to Article 19, the development shall take place on behalf of the participating Parties. 33 17.2 If the Ministry has not approved the PDO within six (6) months after having received the application for approval of the PDO, or a proposed sole risk development, a Party may withdraw his accession to the PDO unless contracts for delivery or renting of production facilities or other major equipment have been entered into with his consent. If no contracts for delivery or renting of production facilities or other major equipment have been entered into within two (2) years after the PDO has been approved, a Party may withdraw his accession to the PDO. 33

FIELD DEVELOPMENT. 3332 17.1 When all the Parties have given notice of their accession to a PDO, or when a development is adopted as a sole risk project pursuant to Article 19, the development shall take place on behalf of the participating Parties. 3332 17.2 If the Ministry has not approved the PDO within six (6) months after having received the application for approval of the PDO, or a proposed sole risk development, a Party may withdraw his accession to the PDO unless contracts for delivery or renting of production facilities or other major equipment have been entered into with his consent. If no contracts for delivery or renting of production facilities or other major equipment have been entered into within two (2) years after the PDO has been approved, a Party may withdraw his accession to the PDO. 33