Interpretation

In these Regulations, unless the context otherwise requires“commercial discovery” means a discovery of petroleum which can be produced commercially, based on consideration of all pertinent technical and financial data according to generally accepted practices in the international petroleum industry; “development and production operations” means operations for or in connection with the production of petroleum; “drilling” means operations for or in connection with the perforation of the earth’s surface, whether the hole is vertical, inclined or horizontal, and includes all operations for preventing the hole from becoming filled by extraneous materials (including water) and the fitting of wellheads, or coring or logging, and any operations incidental thereto; “effective date” means the date of the contract between the Government of Belize and the contractor; 8 Petroleum “exploration operations” means operations for or in connection with exploration for petroleum; “field” means an area, as determined pursuant to the terms of a contract, in which a commercial discovery of petroleum has been made; “Inspector of petroleum” means the Inspector of petroleum appointed under section 4 of the Act; “well” means any opening in the ground made or being made by drilling or boring, or in any other manner, in connection with exploration operations or development and production operation, other than a seismic hole. CAP. 225.