UNIT DEVELOPMENT Clause Samples

UNIT DEVELOPMENT. 12.1 If a Reservoir in a Discovery Area is situated partly within the Contract Area and partly in an area in India over which other parties have a contract to conduct petroleum operations and both parts of the Reservoir can be more efficiently developed together on a commercial basis, on receiving information in writing from any party to these contracts or any information on this from any bonafide source, the Government may, for securing the more effective recovery of Petroleum from such Reservoir, by notice in writing to the Contractor, require that the Contractor: (a) collaborate and agree with such other parties on the joint development of the Reservoir ; (b) submit such agreement between the Contractor and such other parties to the Government for approval within one hundred and eighty (180) days; and (c) prepare a plan for such joint development of the said Reservoir, within one hundred and eighty (180) days of the approval of the agreement referred to in (b) above. 12.2 If no plan is submitted within the period specified in Article 12.1 (c) or such longer period as the Government and the Contractor and the other parties referred to in Article 12.1 may agree, or, if such plan as submitted is not acceptable to the Government and the Parties cannot agree on amendments to the proposed joint development plan, the Government may cause to be prepared, at the expense of the Contractor and such other parties a plan for such joint development consistent with generally accepted modern oilfield and petroleum industry practices which shall take into consideration any plans and presentations made by the Contractor and the aforementioned other parties. 12.3 If the parties are unable to agree on the proposed plan for joint development, the Government may call for a joint development plan from an independent agency, which agency, may make such a proposal after taking into account the position of the parties in this regard. Such a development plan, if approved by Government, shall be binding on the parties, notwithstanding their disagreement with the plan. However, the Contractor may in case of any disagreement on the issue of joint development or the proposed joint development plan, prepared in accordance with Article 12.2 or within forty five (45) Business Days of the plan approval as aforesaid in this Article, notify the Government that it elects to surrender its rights in the Reservoir/Discovery in lieu of participation in a joint development. 12.4 If a proposed jo...
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UNIT DEVELOPMENT. If a Petroleum Reservoir is partly situated in the Production Area of the Company and partly in the Production Area of any other holder of a Production Licence, the Minister may, for purposes of securing the more effective recovery of Petroleum from such Petroleum Reservoir, by notice in writing addressed and delivered to the Company, direct the Company to enter into an agreement in writing with such holder within such period as may be specified in such notice in relation to the joint development and operation of such Petroleum Reservoir and to submit
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UNIT DEVELOPMENT. 12.1 If a Reservoir in a Discovery Area is situated partly within the Contract Area and partly in an area in India over which other parties have a contract to conduct petroleum operations and both parts of the Reservoir can be more efficiently developed together on a commercial basis, on receiving information in writing from any party to these contracts or any information on this from any bonafide source, the Government may, for securing the more effective recovery of Petroleum from such Reservoir, by notice in writing to the Contractor, require that the Contractor:
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UNIT DEVELOPMENT. If a Reservoir in a Discovery Area is situated partly within the Contract Area and partly in an adjoining area in India over which another entity (hereinafter referred as “Other Contractor”)has a contract to conduct Petroleum Operations, and both parts of the Reservoir can be more efficiently developed together on a commercial basis, upon receiving a notification from the Contractor as provided in Article 10 or on receiving information in writing from any party to these contracts or any information on this from any bonafide source, the Government may, for securing the more effective recovery of Petroleum from such Reservoir, by notice in writing to the Contractor, direct that the Contractor:
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UNIT DEVELOPMENT. (1) Where during the term of this Agreement, the Minister: (a) is satisfied that this Agreement and any other petroleum agreement are in force in respect of a common petroleum reservoir; and (b) considers that it is in the interest of Seychelles, in order to secure the maximum ultimate recovery of petroleum, that the common petroleum reservoir should be worked and developed as a unit on a co-operative basis, then the Minister may, by notice, require the Company to co-operate with such persons as are specified in the notice (being all or any of the persons whose petroleum agreements are in force in respect of the common petroleum reservoir and hereinafter called the "Other Operators") in the preparation of a development scheme (hereinafter called the “Development Scheme”) for the working and development of the common petroleum reservoir as a unit by the Company and the Other Operators on a co-operative basis. (2) A notice under subclause (1) shall contain or refer to a description of the area or areas in respect of which the Minister requires a Development Scheme to be submitted and shall state the period within which the Scheme is required to be submitted for approval by the Minister. (3) If a Development Scheme is not so submitted, or if the Development Scheme so submitted is not approved by the Minister, the Minister may cause a Development Scheme to be prepared and given to the Company (which Scheme shall be fair and equitable to the Company and the Other Operators) and the Company shall perform and observe the terms and conditions of the Development Scheme. (4) If the Company notifies the Minister that it objects to a Development Scheme which the Minister causes under subclause (3) to be prepared, a dispute shall be deemed to exist between the Government and the Company for the purpose of Clause 51. (5) Notwithstanding that a dispute so exists, the Company shall perform and observe the terms of the Development Scheme unless it is otherwise determined by arbitration or the Minister alters, withdraws or suspends the Development Scheme or part thereof pending arbitration or otherwise.
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UNIT DEVELOPMENT. If any time during the agreement period:
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UNIT DEVELOPMENT. If a Reservoir in a Discovery Area is situated partly within the Contract Area and partly in an area in India over which other parties have a contract to conduct Petroleum Operations and both parts of the Reservoir can be more efficiently developed together on a commercial basis, on receiving information in writing from any party to these contracts or any information on this from any bonafide source, such information to be submitted prior to submission of FDP, the Government may, for securing the more effective recovery of Petroleum from such Reservoir, by notice in writing to the Contractor, require that the Contractor collaborates and agrees with such other parties on the joint development of the Reservoir, and notify the Government in writing of its intent of such joint development within one hundred (100) days of the receipt of the information by the Government as provided above. Provided that the Government can issue such notice to a Contractor only till such time as the Contractor has not submitted an FDP under Article 10. In the event, the contractor, post FDP submission, discovers that its Discovery extends beyond the block boundary, it shall promptly notify the government of the same within 15 days of such discovery.
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Related to UNIT DEVELOPMENT

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Project Development a. Collaborate with COUNTY and project clients to identify requirements and develop a project Scope Statement. a. Develop a Work Breakdown Structure (WBS) for each project. b. Evaluate Scope Statement to develop a preliminary cost estimate and determinate whether project be vendor bid or be executed under a Job Order Contract (JOC).

  • Joint Development If joint development is involved, the Recipient agrees to follow the latest edition of FTA Circular 7050.1, “Federal Transit Administration Guidance on Joint Development.”

  • Staff Development As part of their induction, new staff will be made aware of this policy and will be asked to ensure compliance with its procedures at all times.

  • Skills Development The Company acknowledges the changing pace of technology in the electrical contracting industry and the need for employees to understand those changes and have the necessary skill requirements to keep the Company at the forefront of the industry. The Parties to this Agreement recognise that in order to increase the efficiency, productivity and competitiveness of the Company, a commitment to training and skill development is required. Accordingly, the parties commit themselves to: i) Developing a more highly skilled and flexible workforce. ii) Providing employees with career opportunities through appropriate training to acquire the additional skills as required by the Company. Taking into account; The current and future skill needs of the Company. The size, structure and nature of the Company. The need to develop vocational skills relevant to the Company and the Electrical Contracting Industry. Where, by agreement between the employee and employer, an employee undertakes training providing skills, which are not a company specific requirement, any time spent in the completion of this training shall be unpaid.