Development of the reservoirand notify the government

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development of the Reservoir,and notify the Government in writing of its intent of such joint development within one hundred (100) days of the receipt of the information by the Government as provided above. 12.2 If the parties are unable to agree to collaborate and/or notify the Government on the proposed plan for joint development of the Reservoir as provided in Article 12.1 above, the Government may call for a joint development plan from an independent agency(at the cost of the parties), which agency may make such a proposal after taking into account the position of the parties in this regard. Such a joint development plan, if approved by Government, shall be binding on the parties, notwithstanding their disagreement with the plan. However, the Contractor may in case of any disagreement on the issue of joint development or the proposed joint development plan, prepared in accordance with Article 12.2 or within forty five (45) Business Days of the plan approval as aforesaid in this Article, notify the Government that it elects to surrender its rights in the Reservoir/Discovery in lieu of participation in a joint development.
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35 12.3 If a proposed joint development plan is agreed and adopted by the parties, or adopted following determination by the Government, the plan as finally adopted shall be the approved joint development plan and the Contractor shall comply with the terms of the said development plan. 12.4 In the event the Contractor determines that the Reservoir in its Contract Area is extending into the contract area already being developed by another entity authorized by the Government (such contract area into which the Reservoir extends hereinafter referred to as “Other Contract Area” , and such other block hereinafter referred to as “Other Block” , and such other entity hereinafter referred to as “Other Contractor” ), then the Contractor shall submit an application for joint development of the Reservoir ( “Joint Development Application” )to the Government (acting through DGH) providing: (i) details of the Reservoir, (ii) details relating to the area falling in the Other Block, (iii) all such other data and information that the Contractor may determine to be relevant. The Contractor shall provide a copy of the Joint Development Application to the Other Contractor prior to or at the time of its submission to the Government. The Government (acting through DGH) shall carry out preliminary evaluation on the basis of available data for the Contract Area and the Other Contract Area. In the event the Government (acting through DGH) believes that the Reservoir is common, then the Government will direct the Managing Committees of the Block and Other Block to carry out a hydrocarbon balancing study and submit a proposal for joint development of the Reservoir by theContractor and Other Contractor.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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