Common use of Decommissioning statement Clause in Contracts

Decommissioning statement. 18.1 In furtherance of its obligation to decommission facilities used in Petroleum Operations in accordance with the Decommissioning Plan, the Company shall prepare in respect of each Calendar Year after the grant of a Production Licence a decommissioning statement, containing the following information valid as at the end of the Year: (a) where applicable, total cumulative production of Petroleum from the Production Area; (b) estimated total recoverable reserves of Petroleum from the Production Area; (c) the estimated date by which 50% of the estimated total recoverable reserves of Petroleum from the Production Area will have been produced; (d) the estimated future total cost of decommissioning the facilities in the Production Area, and of any facilities outside the Production Area; (e) where applicable, the amount to be deposited by the Company into any relevant Trust Fund in respect of the Year, setting out how the amount has been calculated; (f) where applicable, the amount actually paid into the Trust Fund by the Company in respect of the Year; (g) where applicable, the amount of expenditure incurred by the Company on actually decommissioning the facilities in the Year; and (h) where applicable, the amount of any money received by the Company in the Year from the Trust Fund. 18.2 The decommissioning statement for each relevant Calendar Year shall be submitted by the Company to the Commissioner not later than 30 days after the end of the Year.

Decommissioning statement. 18.1 In furtherance of its obligation to decommission facilities used in Petroleum Operations in accordance a ccordance with the Decommissioning Plan, the Company shall prepare in respect of each Calendar Year after the grant of a Production Licence a decommissioning statement, containing the following information valid as at the end of the Year: (a) where applicable, total cumulative production of Petroleum from the Production Area; (b) estimated total recoverable reserves of Petroleum from the Production Area; (c) the estimated date by which 50% of the estimated total recoverable reserves of Petroleum from the Production Area will have been produced; (d) the estimated future total cost of decommissioning the facilities in the Production Area, and of any facilities outside the Production Area; (e) where applicable, the amount to be deposited by the Company into int o any relevant Trust Fund in respect of the Year, setting out how the amount has been calculated; (f) where applicable, the amount actually paid into the Trust Fund by the Company in respect of the Year; (g) where applicable, the amount of expenditure incurred in curred by the Company on actually decommissioning the facilities in the Year; and (h) where applicable, the amount of any money received by the Company in the Year from the Trust Fund. 18.2 The decommissioning statement for each relevant Calendar Year shall sh all be submitted by the Company to the Commissioner not later than 30 days after the end of the Year.