Reservoir Damage Clause Samples
Reservoir Damage. Notwithstanding anything in the CONTRACT to the contrary, the OPERATOR shall indemnify and hold the CONTRACTOR harmless against any damage to or destruction of or loss or impairment of any property right in or to oil, gas or other mineral substance or water if at the time of the act or omission causing such damage, destruction, loss or impairment the said substance had not been reduced to physical possession above the surface of the sea-bed, and for any loss or damage to any formation strata or reservoir beneath the seabed resulting from operations under the CONTRACT. The CONTRACTOR shall not make any payment due hereunder without prior approval from the OPERATOR.
Reservoir Damage. Notwithstanding any other provision in the CONTRACT, the OPERATOR shall release, defend, indemnify and hold harmless the CONTRACTOR GROUP from and against any damage to or destruction of or loss or impairment of any property right in or to oil, gas or other mineral substance or water if at the time of the act or omission causing such damage, destruction, loss or impairment the said substance had not been reduced to physical possession above the surface of the seabed, and for any loss or damage to any formation strata or reservoir beneath the seabed resulting from operations under the CONTRACT.
Reservoir Damage. Operator shall release and protect, defend, hold harmless and indemnify Contractor REGARDLESS OF FAULT against any damage to or destruction of or loss or impairment of any property right in or to oil, gas or other mineral substance or water if at the time of the act or omission causing such damage, destruction, loss or impairment the said substance had not been reduced to physical possession above the surface of the seabed, and for any loss or damage to any formation strata or reservoir beneath the seabed resulting from operations under the Contract.