Revenue Sharing Contract.pdf

Only the part c fdp namely tar shall be subject to

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commercial development of the Field (“Part C FDP”). Only the Part C FDP, namely TAR, shall be subject to the approval of the Management Committee as specified in Article 6.5 (a). 10.9 The FDP shall be submitted to the Management Committee within: (a) three hundred and sixty five (365) days of notification as given in Article 10.4 in case of Petroleum other than CBM or (b) sixty (60) days or earlier before completion of Exploration Period (Phase-II) in case of CBM as specified under Articles 3.2 and 5.4. The FDP shall: (i) relate to the development of Discovery or Discoveries in a cluster; (ii) be designed to ensure the most efficient, beneficial and timely use of the Petroleum resources discovered; (iii) be prepared in accordance with sound engineering, economic, safety and environmental principles recognized in the generally accepted Modern Oil Field and Petroleum Industry Practices; and (iv) be prepared in accordance with any Rules / Guidelines notified by the Government.
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31 10.10 In relation to TAR for a Discovery of Non Associated Natural Gas, the Contractor will have the obligation to tie-up the market(s) for sale of Non-associated Natural Gas within twenty four (24) Months, from the date of approval of the TAR by the Management Committee. 10.11 The Development Phase shall begin after approval of the TAR and continue till commencement of Commercial Production, unless terminated earlier in accordance with Article 10.13 or 10.14.The Contractor shall carry out Development Operations in accordance with the FDP, including but not limited to the purchase, storage of equipment and materials used in developing petroleum accumulations, the drilling, completion and testing of Development Wells, the laying of gathering lines, the installation of separators, tankage, pumps, other producing and injection facilities required to produce, process and transport petroleum into storage or processing facilities, including the laying of pipelines within or outside the Contract Area, storage and Delivery Point or Points, the installation of the said storage or processing facilities required for the development and production of the said petroleum accumulations and for the delivery of the petroleum at the Delivery Point and also including incidental operation, not specifically referred to herein as required for the most efficient and economic development and production of the said petroleum accumulations in accordance with modern oilfields and petroleum industry practices. 10.12 No later than the fifteenth (15th) of January each Year from the start of commercial production, on an annual basis the Management Committee shallrequire the Contractor to prepare an estimate of potential production to be achieved for each of the following three (3) Years (“Program Quantity”) along with appropriate supporting information as may be requested by Management Committee for approval and monitoring of such Program Quantity by the Management Committee.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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