A Well drilled pursuant to an Appraisal Programme.  

Associated Natural Gas or “ANG” means Natural Gas produced in association with Crude Oil either as free gas or in solution, if such Crude Oil can by itself be commercially produced.  

A quantity or unit equal to 158.9074 litres (forty two (42) United States gallons) liquid measure, at a temperature of sixty (60) degrees Fahrenheit (15.56 degrees Celsius) and under one atmosphere pressure (14.70 psia).  

Any igneous or metamorphic rock, or rocks or any stratum of such nature, in and below which the geological structure or physical characteristics of the rock sequence do not have the properties necessary for the accumulation of Petroleum in commercial quantities and which reflects the maximum depth at which any such accumulation can be reasonably ex [..]

A Discovery of Petroleum reserves.  

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 produced from a Development Area and is segregated at the Delivery Point or transp [..]

Contract Area means, on the Effective Date, the area described in Model Production Sharing Contract(MPSC) and delineated on the map attached or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract.  

A period of twelve (12) consecutive months counted from the Effective Date or from the anniversary of the Effective Date.  

"Crude Oil" or “Oil” or “Crude” means all kinds of hydrocarbons and bitumen, both in solid and in liquid form, in their natural state or obtained from Natural Gas by condensation or extraction, including distillate and Condensate when commingled with the heavier hydrocarbons and delivered as a blend at the Delivery Point but exclu [..]

Delivery Point means, except as otherwise provided here or as may be otherwise agreed between the Parties having regard to international practice, the point at which Petroleum reaches the outlet flange of the delivery facility, either offshore or onshore and different Delivery Point(s) may be established for purposes of sales. Delivery Point(s) sha [..]