BLOWOUT OR CRATER. 17.1 COST OF CONTROL OF BLOWOUT (BL/03/24 dated 02.02.2012) In the event any Well being drilled hereunder shall go out of control (Blowout) due to any causes, Contractor will bear the cost and expense of killing the Well or otherwise bringing the Well under control upto US Dollar One Million for each incident and in this regard Operator shall indemnify and hold Contractor harmless in excess of US Dollar One Million for each incident. This applies only to the cost of bringing the well under control and is not to be interpreted as an assumption by Operator of any liability for injuries, to Contractor’s personnel and or damage to the Drilling Unit, caused by such blowout to the Contractor, except as otherwise provided under the terms and conditions of this Agreement.
Appears in 4 contracts
Samples: Model Contract, Model Contract, Model Contract
