64 one representative of the government shall be

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6.4 One representative of the Government shall be designated as the Chairman of the Management Committee and the second representative of the Government shall be designated as the Deputy Chairman. The member of the Operator, or the member designated by the Operator where Operator has two (2) members in the Management Committee shall be designated as the Secretary of the Committee. 6.5 The following matters shall be submitted by the Contractor to the Management Committee for approval: (a) the TAR comprising Part C FDP in particular: (i) estimation of in place volumes and recoverable reserves; and (ii) initial production profile for the life of the Field; (b) annualProgram Quantity i.e. the annual projected production profile for the immediately following three years pursuant to Article 10.12; (c) determination of area within the Contract Area to be relinquished; (d) Development Area demarcated by the Contractor in accordance with this Contract (e) methodology for measurement of Petroleum; (f) abandonment plan/ Site Restoration in accordance with applicable rules/regulations/guidelines of the Government.
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23 6.6 In addition to the functions under Clause 6.5 above, the Management Committee shall monitor the following technical aspects: (a) timelines given for Minimum Work Programmeor Mandatory Work Programme wherever applicable, additional Work Programme and Appraisal Programme; (b) actualproduction levels in accordance with the year on year projections of production as provided by the Contractor pursuant to Article 10; (c) the health of the Reservoir (Reservoir performance) for proper and optimal exploitation of reserves; (d) timelines for implementation of FDP. 6.7 Unless agreed otherwise by all the members of the Management Committee, the Secretary to the Management Committee shall initiate a meeting at least once every three (3) months or a shorter period of notice if the members unanimously so agree. The Secretary to the Management Committee shall circulate the agenda for the meeting thirty (30) days prior to such a meeting. The agenda of the meeting should contain the action taken report/ point on decisions taken between two meetings, and shall be finalized and circulated in consultation with the members of the Management Committee. 6.8 The quorum for a valid Management Committee meeting shall be the presence of at least one nominated member from each Party being present in person or being represented as per Article 6.3. If the quorum is not present the meeting shall be adjourned by one week and in the next meeting the members present in person or being represented as per Article 6.3 subject to the nominee of the Government being also present, shall constitute the quorum, and decisions taken by such quorum shall be final and binding on all the Parties including the absenting Parties notwithstanding the provisions of Article 6.9.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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