WORK PROGRAM AND EXPENDITURES Sample Clauses

WORK PROGRAM AND EXPENDITURES. 4.1. The contract operator shall commence petroleum operations not later than six (6) months after the effective date. 4.2. The amount of exploration work to be undertaken by the contract operator pursuant to the terms of this contract during the first six (6) years following the effective date shall, subject to any negotiated change to the exploration work program and expenditures for contract years four (4) to six (6), be at least that specified for each of these six (6) years as follows:[9] Data Review Seismic Surveys ▇▇▇▇▇ Expenditure US$ Kms No. US$ First Contract Year Second Contract Year Third Contract Year Fourth Contract Year Fifth Contract Year Sixth Contract Year 4.3. If the contract is still in force after the sixth contract year, the Joint Authority and the contract operator shall agree to an exploration work program and expenditures for those subsequent contract years. 4.4. The Joint Authority and the contract operator may negotiate a change to the exploration work program and exp enditures covering contract years four (4) to ten (10), provided the changes are made at least three (3) months prior to the beginning of the contract year affected by the changes. No changes will be made to the exploration work program and expenditures for contract years one (1) to three (3).[10] 4.5. If during: a) the first three (3) contract years the contract operator completes less than the amount of exploration work required to be completed during those years, the Joint Authority shall terminate the contract;

WORK PROGRAM AND EXPENDITURES. 4.1 The contract operator shall continue with petroleum activities being carried out on the effective date. The Designated Authority and the contract operator shall agree to an exploration work program and expenditures for each contract year. 4.2 paragraph deliberately omitted] [4.3 – paragraph deliberately omitted] [4.4 – paragraph deliberately omitted] [4.5 – paragraph deliberately omitted] [4.6 – paragraph deliberately omitted]

WORK PROGRAM AND EXPENDITURES. 4.1 CONTRACTOR shall commence Petroleum Operations hereunder not later than six (6) months after the Effective Date. 4.2 The amount to be spent and the program to be carried out by CONTRACTOR in conducting exploration operations pursuant to the terms of this Contract during the first six (6) Contract Years after the Effective Date and in conducting Petroleum Operations pursuant to the terms of this Contract during the next four (4) Contract Years shall in the aggregate be not less than hereafter specified for each of the Contract Years as follows: G&G Studies & Seismic Reprocessing Five Hundred Thousand United States Dollars (US$500,000) Second Shoot 1,000 Km New Seismic ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$1,500,000) Third Drill ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$3,000,000) Fourth G&G Studies Five Hundred Thousand United States Dollars (US$500,000) Fifth Shoot 1,000 Km New' Seismic ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$1,500,000) Sixth Drill ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$4,000,000) Seventh Evaluate Well Results One Million United States Dollars (US$1,000,000) Eighth Drill ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$4,000,000) Ninth Evaluate Well Results One Million United States Dollars (US$1,000,000) Tenth G&G Studies One Million United States Dollars (US$1,000,000) TOTAL Eighteen Million United States Dollars (US$18,000,000) CONTRACTOR shall carry out Petroleum Operations during the first three (3) Contract Years, during which period CONTRACTOR shall spend at least Five Million United States Dollars (US$ 5,000,000), called the firm commitment. If during any Contract Year CONTRACTOR should spend less than the amount of money required to be so expended, an amount equal to such under expenditure may, with PERTAMINA's consent, be carried forward and added to the amount to be expended in the following Contract Year without prejudice to CONTRACTOR's rights hereunder. If during any Contract Year CONTRACTOR should expend more than the amount of money required to be so expended, the excess may be subtracted from the amount of money to be so expended by CONTRACTOR during the succeeding Contract Years. 4.3 At least three (3) months prior to the beginning of each Calendar Year or at such other time as otherwise mutually agreed by the Parties, CONTRACTOR shall prepare and submit for approval to PERTAMINA a Work Program and Budget of Operating Costs for the Contract Area setting forth th...

WORK PROGRAM AND EXPENDITURES. The contract operator shall commence petroleum operations not later than six (6) months after the effective date. The amount of exploration work to be undertaken by the contract operator pursuant to the terms of this contract during the first six (6) years following the effective date shall, subject to any negotiated change to the exploration work program and expenditures for contract years four (4) to six (6), be at least that specified for each of these six (6) years as follows: 9 Data Review Seismic Surveys ▇▇▇▇▇ Expenditure US$ Kms No. US$ First Contract Year Second Contract Year Third Contract Year Fourth Contract Year Fifth Contract Year Sixth Contract Year If the contract is still in force after the sixth contract year, the Joint Authority and the contract operator shall agree to an exploration work program and expenditures for those subsequent contract years. The Joint Authority and the contract operator may negotiate a change to the exploration work program and expenditures covering contract years four (4) to ten (10), provided the changes are made at least three (3) months prior to the beginning of the contract year affected by the changes. No changes will be made to the exploration work program and expenditures for contract years one (1) to three (3). If during: the first three (3) contract years the contract operator completes less than the amount of exploration work required to be completed during those years, the Joint Authority shall terminate the contract; any of the contract years four (4) to ten (10) the contract operator completes less than the amount of exploration work required within that year, the Joint Authority may terminate the contract and, if the contract is not terminated, the Joint Authority shall require the completion of that work in the following contract year; or any contract year the contract operator completes more than the amount of exploration work required to be completed by the end of that year, the excess shall be counted towards meeting the exploration work obligations of the contract operator during succeeding contract years. For the purpose of subsection 5 of this Section, the Joint Authority, in determining whether the contract operator has completed the exploration work required to be completed in the first three (3) contract years, and in later contract years if work commitments are specified, shall have regard to the actual physical work completed, and not the estimates of expenditure. Where work commitments ...

WORK PROGRAM AND EXPENDITURES. 4.1. The Parties shall Commence Petroleum Operations hereunder not later than six (6) months after the Effective Date. 4.2. The amount to be spent and the program to be carried out by the Parties in conducting Petroleum Operations pursuant to the terms of this Contract during the first six (6) Contract Years and in conducting Petroleum Operations pursuant to the terms of this Contract during the next four (4) Contract Years following the Effective Date shall in the aggregate be not less than hereafter specified for each of the Contract Year as follows: First Contract Year geological & geophysical study and 300 Km seismic. US$ 2,650,000 Second Contract Year 2200 Km seismic/CSMAT US$ 7,200,000 Third Contract Year drilling two (2) ▇▇▇▇▇. US$ 7,250,000 Fourth Contract Year geological & geophysical work. US$ 2,100,000 Fifth Contract Year seismic survey & G&G. US$ 6,800,000 Sixth Contract Year drilling two (2) ▇▇▇▇▇ US$ 7,300,000 Seventh Contract Year geological & geophysical work. US$ 4,300,000 Eighth Contract Year seismic survey and drilling one(1)well. US$ 7,800,000 Ninth Contract Year drilling one (1) well US$ 5,800,000 Tenth Contract Year drilling two (2) ▇▇▇▇▇ US$ 9,300,000 The Parties shall have the option to transfer the work requirement from one category to the other with prior approval of PERTAMINA. Notwithstanding any provisions to the contrary as may elsewhere herein contained, it is specifically agreed that during the first three (3) Contract Years CONTRACTOR shall provide at least seventeen million and one hundred thousand United States Dollars (US$17,100,000) for all expenditures for operations as provided under subsection 4.2, or up to the approval of the plan of development by PERTAMINA, whichever is less, to match PERTAMINA's deemed prior expenditures. Thereafter: a) Funds equal to PERTAMINA's participating interest share for exploration operations and the drilling of appraisal ▇▇▇▇▇ shall be provided by CONTRACTOR; b) Before the first commercial production has commenced, funds equal to PERTAMINA's participating interest share for development, production, processing and transportation (to the point of delivery or export) shall be provided by the CONTRACTOR: c) After commercial production has commenced, the funds for development, production, processing and transportation (to the point of delivery or export) shall be provided by the Parties according to their respective participating interest share; d) At PERTAMINA's request, funds equal to PERTA...

WORK PROGRAM AND EXPENDITURES. (a) CONTRACTOR shall commence the Exploration and Development operations hereunder through the Operating Company not later than six (6) months after the Effective Date unless otherwise agreed upon by EGPC. (b) CONTRACTOR shall be granted a fifteen (15) year period starting from the Effective Date, One (1) extension period of five (5) years shall be granted, subject to the Minister of Petroleum's approval, in accordance with Article III paragraph (b) to perform Exploration and Development operations in "MERGED DEVELOPMENT AREA". CONTRACTOR shall conduct potential Exploration and Development investments in the Merged Development Area with expected financial obligation of [amount redacted] In accordance with Article II above and Annex C-1 attached herein, CONTRACTOR shall submit the 1st Guaranty one day prior the signature of the Minister of Petroleum on this Agreement, guaranteeing the execution of CONTRACTOR’s minimum financial obligations for the Exploration and Development activities for the first 1st five (5) year period starting from the Effective Date. During the first five (5) year period that starts from the Effective Date, CONTRACTOR through the Operating Company shall: - Drill a minimum of ten (10) new w▇▇▇▇ (horizontal and vertical), - perform a minimum of twenty (20) w▇▇▇▇ recompletions to increase production from existing w▇▇▇▇, - Expand progressive cavity pump (PCP) and move towards a larger percentage of PCP compared to Sucker rod artificial lift systems on currently producing or future w▇▇▇▇, - Substantially reduce the reliance on diesel generators to the minimum and reduce carbon emissions and operating costs through either , or a combination of , the collection of off-gas fuel for generators, tie-in to electrical grid and use of renewable energy, - Invest in new manifolds at K and H station, - Upgrade facilities to produce more oil, - Upgrade firefighting facilities to comply with Egyptian laws, - Reduce the trucking of oil and water to the minimum by constructing a new pipeline network. Six (6) months prior the expiry date of each five (5) year period, CONTRACTOR shall submit a Work Program to be approved by EGPC, for the next five (5) years, according to Article II above. In case CONTRACTOR spend more than the minimum financial obligation required to be expended during the five (5) year period, or during any five (5) year period thereafter, approved by EGPC, the excess may be subtracted from the minimum financial obligation of CONTRACTOR ...

WORK PROGRAM AND EXPENDITURES. 4.1. The contract operator shall commence petroleum operations not later than six (6) months after the effective date. 4.2. The amount of exploration work to be undertaken by the contract operator pursuant to the terms of this contract during the first six (6) years following the effective date shall, subject to any negotiated change to the exploration work program and expenditures for contract years four (4) to six (6), be at least that specified for each of these six (6) years as follows: 9 Data Review Seismic Surveys ▇▇▇▇▇ Expenditure US$ Kms No. US$ First Contract Year Second Contract Year Third Contract Year Fourth Contract Year Fifth Contract Year Sixth Contract Year "The amount of exploration work to be undertaken by the contract operator pursuant to the terms of this contract during the first six (6) years following the effective date shall, unless otherwise approved by the Joint Authority, be at least that specified for each of these six (6) years as follows:" 4.3. If the contract is still in force after the sixth contract year, the Joint Authority and the contract operator shall agree to an exploration work program and expenditures for those subsequent contract years.

WORK PROGRAM AND EXPENDITURES. 4.1 The OPERATOR, within one (1) year from the award of the Contract shall secure a Certificate of Non-Coverage from the DENR and Certification Precondition (for Exploration Phase) from the NCIP. 4.2 Before the commencement of Coal development and production activities, the OPERATOR shall secure an ECC from the DENR and Certification Precondition (for Development and Production Phase) from the NCIP. 4.3 The OPERATOR shall be obliged to spend not less than

WORK PROGRAM AND EXPENDITURES. CONTRACTOR shall commence Petroleum Operations hereunder not later than six (6) months after the Effective Date.