MINIMUM WORK PROGRAMME Clause Samples
The Minimum Work Programme clause sets out the specific activities or milestones that a party, typically an operator or contractor, is required to complete within a defined timeframe under an agreement. This may include obligations such as conducting surveys, drilling wells, or submitting technical reports, and often details the minimum level of investment or effort expected. By clearly outlining these requirements, the clause ensures that the project progresses as intended and provides a measurable standard for performance, thereby reducing the risk of underperformance or project delays.
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MINIMUM WORK PROGRAMME. During the Exploration Phase, the CONTRACTOR undertakes the performance of the following minimum Work Programme, it being understood that the work obligations take precedence over expenditure of the estimated amounts:
6.1 During the initial period of the Exploration Phase of years: Seismic: ------------------------------- Drilling: ------------------------------- The minimum financial commitment corresponding to the total cost of the above- mentioned work is estimated at USD
6.2 During the first renewal period of the Exploration Phase of two (2) years: Seismic: ------------------------------- Drilling: ------------------------------- The minimum financial commitment corresponding to the total cost of the above- mentioned work is estimated at USD
6.3 During the second renewal period of the Exploration Phase of two (2) years: Seismic: ----------------------------------- Drilling: ----------------------------------- The minimum financial commitment corresponding to the total cost of the above- mentioned work is estimated at USD
6.4 At the beginning of the initial period of the Exploration Phase and thereafter at the beginning of each additional period, the CONTRACTOR shall furnish to the Operating Committee, a bank guarantee consistent with that in Annex D of this Contract, for an initial amount equal to the estimated cost of the minimum Work Programme to be completed during such period in accordance with Articles 6.1, 6.2 and 6.3 of this Contract. The STATE may call such guarantee in the event of non-performance of the minimum Work Programme which it covers, and such guarantee shall be reduced or terminated, all in accordance with the terms specified in said guarantee.
6.5 The CONTRACTOR may interrupt a Drilling which has not reached the depth and/or deepest geologic objective envisioned by the corresponding minimum Work Programme if the CONTRACTOR has encountered petroleum bearing strata, which, according to the CONTRACTOR, constitute a Discovery. In such case, the well drilled shall nonetheless be considered an Exploration well within the framework of the corresponding minimum Work Programme.
6.6 The CONTRACTOR may suspend a Drilling that has not reached the depth and/or the deepest geologic objective envisioned by the corresponding Work Programme if it has encountered technical Drilling difficulties which in the CONTRACTOR’s opinion, and based on generally accepted practices in the international petroleum industry, justify the suspension. In such case, th...
MINIMUM WORK PROGRAMME. 8.1 The Contractor shall perform the Minimum Work Programme, as set forth in Article 8.2, and shall complete said Minimum Work Programme not later than 12 months after the Effective Date.
8.2 The Minimum Work Programme shall consist of:
8.2.1 Within 12 months of the Effective Date, Contractor will undertake to shoot and process seismic at a cost of $1.25 million which may be up to 200 km of new data.
8.2.2 Within 12 months of the Effective Date, the Contractor will carry out rehabilitation work in the Development Areas on the Samgori, Patardzeuli, South Dome and Krtsanisi Fields (outlined in red on the map in Annex B) to the value of $0.75 million.
8.2.3 Within 18 months of the Effective Date, the Contractor will complete a technical and economic evaluation of all known oil or gas discoveries in the Contract Area. In the event that the Contractor concludes that any such discovery may result in a Commercial Discovery, then the procedures described in Article 9 shall apply. In the event that the Contractor concludes that any such discovery would not lead to a Commercial Discovery, then the area of the discovery shall be relinquished at the first opportunity, unless there is demonstrable prospectivity in horizons above or below the discovery horizon.
MINIMUM WORK PROGRAMME. Preliminary geological and geophysical studies. The drilling of three (03) ▇▇▇▇▇.
MINIMUM WORK PROGRAMME. During the Exploration Phase, the CONTRACTOR undertakes the performance of the following minimum Work Programme, it being understood that the work obligations take precedence over expenditure of the estimated amounts:
6.1 During the initial period of the Exploration Phase of three (3) years:
(a) An aeromagnetic & gravity survey of approximately three thousand five hundred (3500) line kilometers across the Ndian River Block to aid identification of possible volcanics, basement fabrics and trapping geometries. This will reduce reservoir risk associated with high amplitude reflectors in deep prospects.
(b) Geological field work to recover samples of oil seeps and conduct geochemistry studies so as to reduce the gas risk in the Ndian River block.
(c) Selective purchase or reprocessing of existing 2D seismic data within or adjacent to the block to enhance interpretation and thereby reduce risk on structural/ stratigraphic model.
(d) Integrated interpretation of the complete geological and geophysical dataset into an exploration model for the Eastern Rio del Rey basin, as a basis for seismic acquisition in Phase 2.
(e) Seismic acquisition and processing of up to four hundred (400) line kilometers of 2D seismic data subject to a maximum expenditure of five million five hundred thousand U.S. Dollars (US$5,500,000). Total cost of the above mentioned work is estimated at five million nine hundred thousand U.S. Dollars (US$5,900,000).
6.2 During the first renewal period of the Exploration Phase of two (2) years:
(a) One (1) Exploration well to be drilled in the Contract Area targeting the late Cretaceous or Miocene age reservoirs. Total cost of the above mentioned work is estimated at six million U.S. Dollars (US$6,000,000).
6.3 During the second renewal period of the Exploration Phase of two (2) years:
a) One (1) Exploration well to be drilled in the Contract Area targeting the late Cretaceous or Miocene age reservoirs. Total cost of the above mentioned work is estimated at six million U.S. Dollars (US$ 6,000,000).
6.4 At the beginning of the initial period of the Exploration Phase and thereafter at the beginning of each additional period, the CONTRACTOR shall furnish to the Operating Committee a bank guarantee consistent with that in Annex D of this Contract, for an initial amount equal to the estimated cost of the minimum Work Program to be completed during such period in accordance with Articles 6.1, 6.2 and 6.3 of this Contract. The STATE may call such guarantee...
MINIMUM WORK PROGRAMME. PART I BE PERFORMED
MINIMUM WORK PROGRAMME. The Contractor shall at its sole risk fulfil the requirements of the Minimum Work Programme set out below.
7.2.1 The minimum work amount under the Contract in money terms shall be twenty million eight hundred thousand (US $20,800,000) US dollars which shall be allocated as follows: