1213 block shall have the meaning given to the term

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petroleum industry. 1.2.13 “Block” shall have the meaning given to the term in Recital 10 of this Contract. 1.2.14 “Borehole” means a Well drilled in the sub-surface with or without obtaining the cores of rock samples for the purpose of ascertaining any information. 1.2.15 “Business Day” means any of the Calendar Days, which is not a holiday. 1.2.16 “Calendar Day” means any of the seven (7) days of a week. 1.2.17 “Calendar Month” means any of the twelve (12) months of the Calendar Year. 1.2.18 “Calendar Year” means a period of twelve (12) consecutive Months according to the Gregorian calendar, commencing with the first (1st) day of January and ending with the thirty-first (31st) day of December. 1.2.19 “Coal Bed Methane (CBM)” means Natural Gas (mainly Methane) contained in coal or bituminous lignite beds under Reservoir condition and extracted therefrom during Petroleum Operations. 1.2.20 “Commercial Production” means production of Crude Oil or Condensate or Natural Gas or any combination of these from the Contract Area (excluding production for testing purposes) and delivery of the same at the relevant Delivery Point under a programme of regular production and sale. 1.2.21 “Company” for the purpose of this Contract means a company which is a Party to this Contract and, where more than one Company is Party to the Contract, the term “Companies” shall mean all such Companies collectively, including their respective successors and permitted assigns under Article 27. 1.2.22 “Condensate” means those low vapour pressure hydrocarbons obtained from Natural Gas through condensation or extraction and refers solely to those hydrocarbons that are liquid at normal surface temperature and pressure conditions; provided that in the event Condensate is
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9 produced from a Development Area and is segregated at the Delivery Point or transported to the Delivery Point after segregation, then the provisions of this Contract shall apply to such Condensate as if it were Crude Oil. 1.2.23 “Contract” means this agreement and the Appendices mentioned herein and attached hereto and made an integral part hereof and any amendments made thereto pursuant to the terms hereof. 1.2.24 “Contract Area” means, on the Effective Date, the area described in AppendixA and delineated on the map attached as Appendix B or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract (including any additional area as provided under Article 11.1.4). 1.2.25 “Contract Year” means a period of twelve (12) consecutive months counted from the Effective Date or from the anniversary of the Effective Date. 1.2.26 “Contractor” means the Company (ies). 1.2.27 “Contractor’s Revenue Share” shall have the meaning specified in Article 15.4.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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