Common use of CESSATION OF PETROLEUM ACTIVITIES Clause in Contracts

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. 30.1 36.1 The Operator shall submit a proposal to the management committee 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 Management Committee that an abandonment plan for the activities or the facility be prepared. If the management committee Management Committee so decides, the Operator shall in close cooperation with the other Parties prepare such abandonment plan. The management committee 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. 30.1 The 38.1The 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.