Example ContractsClausesannual operating budget and financial projectionsVariants
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If the Operating Committee determines that a Discovery may be a Commercial Discovery, Operator shall, as soon as practicable, deliver to the Parties a Development Plan together with the first annual Work Program and Budget (or a multi-year Work Program and Budget pursuant to clause 6.10) and provisional Work Programs and Budgets for the remainder of the development of the Discovery, which shall contain, inter alia:

IfAfter receipt of the Development Plan and prior to any applicable deadline under the PSC, the Operating Committee determines that a Discovery may be a Commercial Discovery, Operator shall, as soon as practicable, delivershall meet to consider, modify and then either approve or reject the Parties a Development Plan together withand the first annual Work Program and Budget (orfor the development of a multi-yearDiscovery, as submitted by Operator. If the Operating Committee determines that the Discovery is a Commercial Discovery and approves the corresponding Development Plan, Operator shall, as soon as possible, deliver any notice of Commercial Discovery required under the PSC and take such other steps as may be required under the PSC to secure approval of the Development Plan by the Management Committee or the Government, as applicable. In the event the Management Committee or the Government requires changes in the Development Plan and/or such Work Program and Budget pursuantBudget, the matter shall be resubmitted to clause 6.10) and provisional Work Programs and Budgetsthe Operating Committee for the remainder of the development of the Discovery, which shall contain, inter alia:further consideration.

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