Minimum Exploration definition

Minimum Exploration. Program: work schedule provided for in Annex II, to be met by the Consortium Members during the course of the Exploration Phase.
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Examples of Minimum Exploration in a sentence

  • The Exploration Plan shall contemplate all exploration activities to be developed in the Contract Area during its effectiveness and shall mandatorily consider the Minimum Exploration Program and compliance with the Local Content.

  • The Consortium Members shall perform the obligations related to the Minimum Exploration Program within the terms and under the conditions described in Annex II.

  • In the absence of outstanding issues, ANP shall issue the certificate of completion of the Minimum Exploration Program within thirty (30) days after its completion and, then, it shall return the respective financial guarantees.

  • If the Consortium Members do not comply with the Minimum Exploration Program, ANP shall summon the Consortium Members to pay the amount corresponding to the non-executed portion, calculated under this Agreement, within thirty (30) days, and, in case of default, it shall execute the relevant financial guarantees.

  • ANP may define an additional Minimum Exploration Program for the areas to be divided.

  • The Concessionaire shall perform the obligations related to the Minimum Exploration Program within the terms and under the conditions described in Annex II.

  • Development of the activities of the Minimum Exploration Program may start before approval of the Exploration Plan, as long as ANP is previously notified.

  • In case the Consortium Members are interested in developing exploration activities additional to the Minimum Exploration Program, they shall submit a revised Exploration Plan to ANP upon at least one hundred-twenty (120)-day notice from the beginning of such activities.

  • For purposes of compliance with the Minimum Exploration Program, the drilled ▇▇▇▇▇ shall achieve the exploratory objective at a depth sufficient for establishing their potential in Oil and Gas, as defined in Annex II.

  • Each of the areas divided shall have an associated Minimum Exploration Program, the total number of activities of which shall exceed the number set forth in the original program.

Related to Minimum Exploration

  • Exploration Operations means any operations carried out for or in connection with the exploration for minerals, and includes -

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Exploration means all activities directed toward ascertaining the existence, location, quantity, quality or commercial value of deposits of Products.

  • Minimum Extended Summer Resource Requirement means, for Delivery Years through May 31, 2017, the minimum amount of capacity that PJM will seek to procure from Extended Summer Demand Resources and Annual Resources for the PJM Region and for each Locational Deliverability Area for which the Office of the Interconnection is required under Tariff, Attachment DD, section 5.10(a) to establish a separate VRR Curve for such Delivery Year. For the PJM Region, the Minimum Extended Summer Resource Requirement shall be equal to the RTO Reliability Requirement minus [the Limited Demand Resource Reliability Target for the PJM Region in Unforced Capacity]. For an LDA, the Minimum Extended Summer Resource Requirement shall be equal to the LDA Reliability Requirement minus [the LDA CETL] minus [the Limited Demand Resource Reliability Target for such LDA in Unforced Capacity]. The LDA CETL may be adjusted pro rata for the amount of load served under the FRR Alternative.

  • exploration area means that part of the Area allocated to the Contractor for exploration, described in schedule 1 hereto, as the same may be reduced from time to time in accordance with this contract and the Regulations;