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Rule 16
EXPLORATION PERIOD
: (1) The primary exploration period shall be four (4) contract years from the date of entry into force of the Petroleum Agreement ………..
(1A) After the end of the primary exploration period as per sub-rule (1), the government of Nepal may add three contract years for the first time and two contract years for the second time, up to a maximum of five contract years.
(2) at the end of the exploration period to complete any drilling, logging, testing or capping operations in progress in relation to any oil well or to complete any prospecting work, to evaluate the petroleum discovered, to prepare and submit a detailed development program and budget or to issue a production permit; The department may extend the exploration period for a reasonable period of time required to apply for or determine the export market (including the necessary facilities and necessary infrastructure) of the petroleum obtained from the site discovered in the contract area.
(1A) After the end of the primary exploration period as per sub-rule (1), the government of Nepal may add three contract years for the first time and two contract years for the second time, up to a maximum of five contract years.
(2) at the end of the exploration period to complete any drilling, logging, testing or capping operations in progress in relation to any oil well or to complete any prospecting work, to evaluate the petroleum discovered, to prepare and submit a detailed development program and budget or to issue a production permit; The department may extend the exploration period for a reasonable period of time required to apply for or determine the export market (including the necessary facilities and necessary infrastructure) of the petroleum obtained from the site discovered in the contract area.