Adjustments to Accruals for Abandonment and Decommissioning Costs. (a) If excess accruals which were booked for abandonment and decommissioning costs remain following completion of all abandonment and decommissioning operations, then such excess funds shall be distributed to Contractor and Government in the same proportion as the cumulative Profit Oil or Profit Gas distribution, as appropriate, to Government and Contractor under Clause 27 of this Contract during the years that the accruals for abandonment and decommissioning costs were booked by Contractor.
Appears in 5 contracts
Samples: Participation Agreement, Participation Agreement, Participation Agreement (CAMAC Energy Inc.)
