CESSATION OF PETROLEUM ACTIVITIES. 30.1 The Operator shall submit a proposal to the management committee to prepare an abandonment plan in accordance with the time limits stipulated in the Petroleum Act. If the Operator or a Party is of the opinion that activities should be terminated or the use of a facility should cease before the Production Licence expires, it may within the same time limits propose to the management committee that an abandonment plan for the activities or the facility be prepared. If the management committee so decides, the Operator shall in close cooperation with the other Parties prepare such abandonment plan. The management committee may also decide to apply to the Ministry for an extension of the time limit for submitting an abandonment plan, or for an exemption from the requirement to present an abandonment plan.
CESSATION OF PETROLEUM ACTIVITIES. The Operator shall submit a proposal to the management committee to prepare an abandonment plan in accordance with the time limits stipulated in the Petroleum Act. If the Operator or a Party is of the opinion that activities should be terminated or the use of a facility should cease before the Production Licence expires, it may within the same time limits propose to the management committee that an abandonment plan for the activities or the facility be prepared. If the management committee so decides, the Operator shall in close cooperation with the other Parties prepare such abandonment plan. The management committee may also decide to apply to the Ministry for an extension of the time limit for submitting an abandonment plan, or for an exemption from the requirement to present an abandonment plan. If the management committee does not adopt a proposal to prepare an abandonment plan, or does not deal with the matter within a reasonable period of time, any Party may himself prepare an abandonment plan. Upon request from such Party, the Operator shall assist the Party in its work to the extent this does not involve cost or inconvenience to the joint venture. The abandonment plan shall specify any provide information in accordance with what is required by applicable law, regulations and guidelines. ABANDONMENT PLAN An abandonment plan as mentioned in Article 29 shall be submitted to the management committee and the Parties. Any Party may prepare an alternative abandonment plan or make suggestions for alterations and shall, in such case, attach an account of the Party's diverging conclusions. Upon request, the Operator shall assist the Party in its work to the extent this does not involve costs or inconvenience to the joint venture. The management committee may adopt an abandonment plan no earlier than three (3) months after it received the plan. If a Party within this period has notified that it will prepare proposals for substantial alterations in the abandonment plan or an alternative abandonment plan, the management committee shall set a period of at least three months for the submittal of such proposal. If the management committee adopts an abandonment plan prepared pursuant to Articles 29.2, 30.2 or 30.3, or makes substantial use of such abandonment plan, the Party who has prepared the plan may require that the cost relating to its preparation be reimbursed. An approved abandonment plan with appurtenant documentation shall be submitted to the Parties, th...
CESSATION OF PETROLEUM ACTIVITIES. 30.1 The Operator shall submit a proposal to the management committee to prepare a decommissioning plan in accordance with the time limits stipulated in the Hydrocarbons Act. If the Operator or a Party is of the opinion that activities should be terminated or the use of a facility should cease before the Licence expires, it may within the same time limits propose to the management committee that a decommissioning plan for the activities or the facility be prepared. If the management committee so decides, the Operator shall in close cooperation with the other Parties prepare such a decommissioning plan. The management committee may also decide to apply to the NEA for an extension of the time limit for submitting a decommissioning plan, or for an exemption from the requirement to present a decommissioning plan.
CESSATION OF PETROLEUM ACTIVITIES. XLIII.1The Operator shall submit a proposal to the Management Committee to prepare an abandonment plan in accordance with the time limits stipulated in the Petroleum Act. If the Operator or a Party is of the opinion that activities should be terminated or the use of a facility should cease before the Production Licence expires, it may within the same time limits propose to the Management Committee that an abandonment plan for the activities or the facility be prepared. If the Management Committee so decides, the Operator shall in close cooperation with the other Parties prepare such abandonment plan. The Management Committee may also decide to apply to the Ministry for an extension of the time limit for submitting an abandonment plan, or for an exemption from the requirement to present an abandonment plan. XLIII.2If the Management Committee does not adopt a proposal to prepare an abandonment plan, or does not deal with the matter within a reasonable period of time, any Party may himself prepare an abandonment plan. Upon request from such Party, the Operator shall assist the Party in its work to the extent this does not involve cost or inconvenience to the Unit.
