PETROCELTIC (PCI):CHART AND DISCUSSION THREAD (moderated)

what Brick?
they get 25 years for exploitation! 30 if dry gas. For areas within the scope of the newly or previously declared discoveries...


"2. The length of the exploitation contract

The period of performance of the exploitation contract varies according to the
nature of the activity. When the production of liquid hydrocarbons is involved, the length of the period is twenty five years. On the other hand, the length of the period is thirty years when a dry gas deposit is being exploited. "

and they are allowed to explore within the perimeter of exploitation:

" a) The exclusive right to engage in exploitation activities
The exploration and/or exploitation contract grants the contracting entity the
exclusive right of engaging in activities, either after the discovery of a deposit for which a declaration has been filed, or when an already discovered deposit is involved. However, the exercise of this right is subordinated to the approval of the development plan by the National Agency for the Development of Hydrocarbon Resources (ALNAFT) (Art. 24, Act 05-07 of April 28, 2005 pertaining to hydrocarbons). Within the perimeter of exploitation, the contracting entity is also allowed to conduct exploratory operations, that is to dig wells with the hope of possibly discovering other deposits. "