Juicier target CNE or FAR, page-126

The current Exploration PSC is quite explicit.

QUOTE
If a discovery of Hydrocarbons is declared commercially exploitable, the Contractor shall request, on the date of submission of the plan for the development and putting into operation of the Commercial Deposit concerned, and shall obtain, by decree, in accordance with the provisions of the Petroleum Code, Operating authorization relating to the Exploitation Perimeter of the Deposit granted for a period of twenty-five (25) years and relating to the extent of the commercial deposit within the current Contractual Area.
ENDQUOTE

Only once DOC is declared by the JV can a contractor submit a development plan for exploitation and in accordance with the petroleum code (which is about to change in the Arete) the Senegal Government will need to approve and grant the licence. The MSGBC conference explained that Senegal want to run the applications for the exploitation as a competitive bidding process. Mamadou Faye at the conference also had a talking point "What this means for existing licence holders" which I would dearly love to get a hold of. Its important for FAR!

https://translate.google.com.au/tra...hui-ne-couvrent-que-lexploration/&prev=search

Now i read elsewhere but buggered if I can remember exactly where - that the "operatorship" of the exploration PSC carries over to the production PSC. take this as dubious for now till I can find the reference again.