The Petroleum Licensing (Exploration and Production) (Seaward and Landward Areas) Regulations 2004 No. 352

SCHEDULE 4 U.K. MODEL CLAUSES FOR STANDARD PRODUCTION LICENCES

Term of Licence U.K.

3.—(1) This licence unless sooner determined under any of the provisions hereof shall be and continue for the Initial Term.

(2) Upon expiry of the Initial Term this licence shall, provided always that its terms and conditions continue to be performed and observed, be and continue in force as follows—

(a) subject to clauses 4 and 8, for the Second Term; and

(b) subject to clause 5, for the Production Period.

Commencement Information

I1 Sch. 4 clause 3 in force at 5.3.2004, see reg. 1