ABANDONMENT AND SITE RESTORATION Sample Clauses

ABANDONMENT AND SITE RESTORATION. Operating Costs shall include all expenditures incurred in the abandonment of all exploratory wxxxx and the restoration of their drill sites, together with all estimates of monies required for the funding of any abandonment and site restoration program established in conjunction with an approved plan of development for a commercial discovery. Expenditures incurred in the abandonment of exploratory wxxxx and the restoration of their drill sites shall be charged as Operating Costs in accordance with Article II of this Exhibit “C” The deposit of the estimates of monies required for the funding of any abandonment and site restoration program established pursuant to paragraph (e) of Sub-section 5.2.6 of the CONTRACT into an escrow account which constitutes the Abandonment and Restoration Funds (AARF), shall begin at the Year of first commercial production, and such deposited amount may be charge as Operating Cost Annually. CONTRACT AREA: CITARUM Such estimated amount of monies to be deposited into such an escrow account between SKK MIGAS and CONTRACTOR at Indonesian bank in Indonesia , will be calculated each Year by dividing the total estimated costs of abandonment and site restoration for each discovery less the estimated salvage value of abandoned facilities by the total estimated number of Years in the economic life of each discovery and shall be reviewed on an annual basis and such estimates shall be adjusted each Year as required. If, for any reason, CONTRACTOR is required to abandon any field and restore the related site prior to the expiration or termination of this CONTRACT, CONTRACTOR may, for the purpose of conducting such abandonment and site restoration, use the funds established as AARF pursuant to the provisions of Sub-section 5.2.6 (e) hereof.
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ABANDONMENT AND SITE RESTORATION. 42.1 Prior to the termination or expiry of this Contract or relinquishment of a part of the Contract Area, but subject to Article 42.5, Contractor and Operator shall be liable for Abandonment and site restoration in respect of the Contract Area or the relevant part of the Contract Area, the costs of which shall be Petroleum Costs. All Abandonment and site restoration activities shall be performed in accordance with Best International Petroleum Industry Practices.
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ABANDONMENT AND SITE RESTORATION. Any costs and expenditures in relation to abandonment and site restoration and any payments in accordance with the funding procedure described in Article 9.8 of the Contract and Section VII of this Accounting Procedure shall be charged to the Petroleum Operations Account.
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ABANDONMENT AND SITE RESTORATION. 3.12.1 Any costs and expenditures in relation to abandonment and site restoration prior to the cessation of Petroleum Operations in any part of the Contract Area.
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ABANDONMENT AND SITE RESTORATION. Operating Costs shall include all expenditures incurred in the abandonment of all exploratory xxxxx and the restoration of their drillsites, together with all estimates of monies required for the funding of any abandonment and site restoration program established in conjunction with an approved plan of development for a commercial discovery. Expenditures incurred in the abandonment of exploratory xxxxx and the restoration of their drillsites shall be charged as Operating Costs in accordance with Article II of this Exhibit "C". Estimates of monies required for the funding of any abandonment and site restoration program established pursuant to paragraph (e) of clause 5.2.5 of the Contract shall be charged as Operating Costs annually on the basis of accounting accruals beginning in the year of first production. The amount charged in each Year will be calculated by dividing the total estimated cost of abandonment and site restoration for each discovery by the total estimated number of years in the economic life of each discovery. The estimates of monies required for all abandonment and site restoration activities shall be reviewed on an annual basis and such estimates shall be adjusted each Year as required. EXHIBIT "D" This EXHIBIT "D", THE MEMORANDUM OF PARTICIPATION is attached to and made an integral part of the Contract between PERUSAHAAN PERTAMBANGAN MINYAK XXX GAS BUMI NEGARA (PERTAMINA) and APEX (YAPEN) LTD. (CONTRACTOR) and is dated as of the Effective Date therein defined. MEMORANDUM OF PARTICIPATION The operating agreement between CONTRACTOR and the Indonesian participant referred to in subsection 16.3 Section XVI shall embody, inter alia, the following main principles:
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ABANDONMENT AND SITE RESTORATION. The Development Plan shall also include an abandonment and site restoration program together with a funding procedure for such program. All funds collected pursuant to the funding procedure shall be indicated to site restoration and abandonment and will be placed in a special interest bearing account by Contractor which shall be held in the joint names of the State and the Contractor or their respective nominees, or its designee. Contractor's responsibilities for environmental degradation, site restoration and well abandonment obligations, and any other actual contingent and potential activity associated with the environmental status of the Development Area shall be limited to the obligation to place the necessary funds in the approved account. All expenditures incurred in abandonment and site restoration including but not limited to all payments deposited by Contractor in the special interest bearing account shall be treated as Costs and Expenses in accordance with Article 11 and Article 9.8 of the Contract and chargeable to the Petroleum Operations Account. 84 ANNEX D THE GBOC LICENCE 85 Approved by The Chairman of Department "Georgian Oil" R Tevzadze 1994 COMPLEX LICENSE
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ABANDONMENT AND SITE RESTORATION. Operating Costs shall include all expenditures incurred in the abandonment of all exploratory xxxxx and the restoration of their drillsites, together with all estimates of monies required for the funding of any abandonment and site restoration program established in conjunction with an approved plan of development for a commercial discovery. Expenditures incurred in the abandonment of exploratory xxxxx and the restoration of their drillsites shall be charged as Operating Cost in accordance with Article II of this Exhibit "C" Estimates of monies required for the funding of any abandonment and site restoration program established pursuant to paragraph (e) of clause 5.2.3 of the Contract shall be charged as Operating Costs annually on the basis of accounting accruals beginning in the year of first production. The amount charged in each Year will be calculated by dividing the total estimated cost of abandonment and economic life of each discovery. The estimates of monies required for all abandonment and site restoration activities shall be reviewed on an annual basis and such estimates shall be adjusted each Year as required. --o0o--
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ABANDONMENT AND SITE RESTORATION. The Development Plan shall also include an abandonment and site restoration program together with a funding procedure for such program. All funds collected pursuant to the funding procedure shall be indicated to site restoration and abandonment and will be placed in a special interest bearing account by Contractor which shall be held in the joint names of the State and the Contractor or their respective nominees, or its designee. Contractor's responsibilities for environmental degradation, site restoration and well abandonment obligations, and any other actual contingent and potential activity associated with the environmental status of the Development Area shall be limited to the obligation to place the necessary funds in the approved account. All expenditures incurred in abandonment and site restoration including but not limited to all payments deposited by Contractor in the special interest bearing account shall be treated as Costs and Expenses in accordance with Article 11 and Article 9.8 of the Agreement and chargeable to the Petroleum Operations Account. ANNEX D MINIMUM WORK PROGRAM Work Program for the Agreement Area, Norio-Satkhenisi Area Block XIc and Kumisi Block, includes minimal obligatory seismic program and program for future works which is divided into two phases. Works planned for first two phases are given below.
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Related to ABANDONMENT AND SITE RESTORATION

  • Restoration The following provisions shall apply in connection with the Restoration of the Property:

  • Hazardous Materials; Remediation (a) If any release or disposal of Hazardous Materials shall occur or shall have occurred on any real property or any other assets of any Borrower or any other Credit Party, such Borrower will cause, or direct the applicable Credit Party to cause, the prompt containment and removal of such Hazardous Materials and the remediation of such real property or other assets as is necessary to comply with all Environmental Laws and to preserve the value of such real property or other assets. Without limiting the generality of the foregoing, each Borrower shall, and shall cause each other Credit Party to, comply with each Environmental Law requiring the performance at any real property by any Borrower or any other Credit Party of activities in response to the release or threatened release of a Hazardous Material.

  • Construction of the Tenant Improvements Landlord shall construct the Tenant Improvements in accordance with this exhibit and the construction contract to be executed by Landlord and its contractor(s). The construction contract for constructing the Tenant Improvements and the contractor(s) to perform the work shall be approved and/or selected, as the case may be, by Landlord at its sole and absolute discretion without the consent of Tenant.

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