Common use of Relinquishment of Areas and Reversal of Properties Clause in Contracts

Relinquishment of Areas and Reversal of Properties. In case of use of pre-existing xxxxx or infrastructure, the Concessionaire shall undertake, with respect to them, the responsibilities provided for in the Agreement and in the Applicable Laws and Regulations. In case of a Field, the plan for decommissioning and abandonment and the mechanisms to make the necessary funds available shall be provided for in the respective Development Plan and reviewed from time to time throughout the Production Phase through the Annual Work and Budget Programs. The cost of decommissioning and abandonment of Operations shall be established in order to cover the activities of permanent abandonment of xxxxx, decommissioning and removal of lines and facilities, and rehabilitation of areas, under the Applicable Laws and Regulations.

Relinquishment of Areas and Reversal of Properties. In case of use of pre-existing xxxxx or infrastructure, the Concessionaire shall undertake, with respect to them, the responsibilities provided for in the Agreement and in the Applicable Laws and Regulations. In case of a Field, the plan for decommissioning and abandonment and the mechanisms to make the necessary funds available shall be provided for in the respective Development Plan and reviewed from time to time throughout the Production Phase through the Annual Work and Budget Programs. The cost of decommissioning and abandonment of Operations shall be established in order to cover the activities of permanent definitive abandonment of xxxxx, decommissioning and removal of lines and facilities, and rehabilitation of areas, under pursuant to the Applicable Laws and Regulations.