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. 30.2 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. 30.3 The abandonment plan shall specify any proposals for continued production or shutdown of the production and disposal of facilities, for example further use of the facility in the petroleum activities, other use, complete or part removal or abandonment. Technical matters, matters concerning safety and matters relating to protection of the environment and economical issues as well as a due consideration of other users of the ocean shall be discussed in the abandonment plan for the relevant disposal alternative(s). Further, any information required by applicable laws, regulations or guidelines shall be included.

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. 30.2 36.2 If the management committee 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 ventureUnit. 30.3 36.3 The abandonment plan shall specify any proposals for continued production or shutdown of the production and disposal of facilities, for example further use of the facility in the petroleum activities, other use, complete or part removal or abandonment. Technical matters, matters concerning safety and matters relating to protection of the environment and economical issues as well as a due consideration of other users of the ocean shall be discussed in the abandonment plan for the relevant disposal alternative(s). Further, any information required by applicable laws, regulations or guidelines shall be included.

CESSATION OF PETROLEUM ACTIVITIES. 30.1 The Operator shall submit a proposal to the management committee to prepare an abandonment a decommissioning plan in accordance with the time limits stipulated in the Petroleum 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 Production Licence expires, it may within the same time limits propose to the management committee that an abandonment 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 abandonment a decommissioning plan. The management committee may also decide to apply to the Ministry NEA for an extension of the time limit for submitting an abandonment a decommissioning plan, or for an exemption from the requirement to present an abandonment a decommissioning plan. 30.2 If the management committee does not adopt a proposal to prepare an abandonment a decommissioning plan, or does not deal with the matter within a reasonable period of time, any Party may himself prepare an abandonment a decommissioning 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. 30.3 The abandonment decommissioning plan shall specify any proposals for continued production or shutdown of the production and disposal of facilities, for example further use of the facility in the petroleum activities, other use, complete or part removal or abandonment. Technical matters, matters concerning safety and matters relating to protection of the environment and economical issues as well as a due consideration of other users of the ocean shall be discussed in the abandonment decommissioning plan for the relevant disposal alternative(s). Further, any information required by applicable laws, regulations or guidelines shall be included.