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Petroleum Operations Regulations

THE REVISED REGULATIONS ON PETROLEUM OPERATIONS, LEGAL NOTICE 45/2000 Article 1. Short Title These Regulations may be cited as "the Revised Regulations on Petroleum Operations, Legal Notice No. 45/2000”. Article 2. Interpretation In these Regulations unless the context otherwise requires: • "Commercial Discovery" means a Discovery that can be produced commercially after consideration of all pertinent operating and financial data collected during the performance of the appraisal work program and otherwise, including but not limited to Crude Oil or Natural Gas recoverable reserves, sustainable production levels and other relevant technical and economic factors, according to generally accepted international petroleum industry practices.
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