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Rule 2
Definition
: In this Regulation, unless the subject or context otherwise requires,
(a) "Investigation period" means the primary investigation period as specified in rule 16 and the period in addition thereto.
(b) "Exploration work" means all work necessary for exploring petroleum and evaluating the commercial development of discovered petroleum in accordance with the Petroleum Agreement.
(c) "Investigation section" means the investigation section demarcated as per rule 11 and 13 and separated as per rule 14.
(d) "Production Permit" means the production permit to be granted as per sub-rule (2) of Rule 20.
(e) "Production period" means the production period as specified in rule 21.
(f) "Production activities" means all activities necessary for the production, refining, transportation, storage and distribution of petroleum.
(g) “Production area” means the production area mentioned in the production permit.
(h) "Act" means the Nepal Petroleum Act, 2040.
(i) "Katkendar" means a person appointed (hired) by the contractor for petroleum work.
(j) "Contract Year" means an unbroken period of twelve months in the Gregorian calendar commencing on the applicable date or the annual date of such date.
(k) "Agreement area" means the area which is abandoned and diminishing as mentioned in the petroleum agreement according to rule 17.
(l) “Dollars” shall mean United States Dollars.
(d) "Inspector" means any person, officer or agency authorized by the Government of Nepal in accordance with Section 11 of the Act.
(l) "Petroleum Expenses" means all expenses incurred by the Contractor in carrying out Petroleum Works. The expenses which are defined in the petroleum contract.
(n) “Budget” means the estimated cost of each activity included in the program.
(i) “calendar year” means a year commencing on the 1st day of January in the Gregorian calendar and ending on the 31st day of December of the same year;An unbroken period of twelve months ending in .
(h) "Development work" means all work necessary for the commercial development of the site.
(D) "Sale or Disposal" means sale, exchange or transfer of petroleum with or without consideration.
(d) "Commercial production day" means the day on which the contractor sells and distributes petroleum produced in commercial quantities from the production area for the first time.
(N) "Royalty" means the royalty retained by the Government of Nepal as per Section 13 of the Act.
(p) "Applicable Date" means the date on which the Government of Nepal and the Contractor signed the Petroleum Agreement.
(f) "Field" means an area having one or more petroleum deposits that are associated with or related to a geological structure or stratigraphic condition and from which petroleum can be commercially produced.
(b) "Committee" means the Petroleum Consultative Committee constituted under Rule 43.
(b) “Calendar Quarter” means a continuous period of three (3) months commencing on January 1, April 1, July 1 or October 1 and ending on March 31, June 30, September 30 or December 31 according to the Gregorian calendar; Must remember.
(a) "Investigation period" means the primary investigation period as specified in rule 16 and the period in addition thereto.
(b) "Exploration work" means all work necessary for exploring petroleum and evaluating the commercial development of discovered petroleum in accordance with the Petroleum Agreement.
(c) "Investigation section" means the investigation section demarcated as per rule 11 and 13 and separated as per rule 14.
(d) "Production Permit" means the production permit to be granted as per sub-rule (2) of Rule 20.
(e) "Production period" means the production period as specified in rule 21.
(f) "Production activities" means all activities necessary for the production, refining, transportation, storage and distribution of petroleum.
(g) “Production area” means the production area mentioned in the production permit.
(h) "Act" means the Nepal Petroleum Act, 2040.
(i) "Katkendar" means a person appointed (hired) by the contractor for petroleum work.
(j) "Contract Year" means an unbroken period of twelve months in the Gregorian calendar commencing on the applicable date or the annual date of such date.
(k) "Agreement area" means the area which is abandoned and diminishing as mentioned in the petroleum agreement according to rule 17.
(l) “Dollars” shall mean United States Dollars.
(d) "Inspector" means any person, officer or agency authorized by the Government of Nepal in accordance with Section 11 of the Act.
(l) "Petroleum Expenses" means all expenses incurred by the Contractor in carrying out Petroleum Works. The expenses which are defined in the petroleum contract.
(n) “Budget” means the estimated cost of each activity included in the program.
(i) “calendar year” means a year commencing on the 1st day of January in the Gregorian calendar and ending on the 31st day of December of the same year;An unbroken period of twelve months ending in .
(h) "Development work" means all work necessary for the commercial development of the site.
(D) "Sale or Disposal" means sale, exchange or transfer of petroleum with or without consideration.
(d) "Commercial production day" means the day on which the contractor sells and distributes petroleum produced in commercial quantities from the production area for the first time.
(N) "Royalty" means the royalty retained by the Government of Nepal as per Section 13 of the Act.
(p) "Applicable Date" means the date on which the Government of Nepal and the Contractor signed the Petroleum Agreement.
(f) "Field" means an area having one or more petroleum deposits that are associated with or related to a geological structure or stratigraphic condition and from which petroleum can be commercially produced.
(b) "Committee" means the Petroleum Consultative Committee constituted under Rule 43.
(b) “Calendar Quarter” means a continuous period of three (3) months commencing on January 1, April 1, July 1 or October 1 and ending on March 31, June 30, September 30 or December 31 according to the Gregorian calendar; Must remember.