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“The commercial exploitation of oil and gas found in an authorized contract area, specifically the operation that brings hydrocarbons to the surface and prepares them for processing, but more generally may be considered to include all incidental activities, including the design, construction, installation, operation and maintenance of any plant and infrastructure and the processing, stockpiling, transportation, export and sale of products. This phase may also be referred to as exploitation or development.”

Source:A&O Guide to Extractive Industries Documents – Oil & Gas

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