Common use of Decommissioning of Facilities Clause in Contracts

Decommissioning of Facilities. The environmental abandonment and rehabilitation, including, but not necessarily limited to, plugging, cementing, and other operations necessary for safely plugging the xxxxx, as well as decommissioning and removal of lines and removal of stationary and floating Production units, are included in the decommissioning of facilities referred to in item β€œd” of paragraph 3.1. Rentals, Charters, and Leases Expenditures with rentals, charters, and leases are recoverable as Cost Oil. Costs referred to in the main section shall only be recoverable during the period in which the property or right is effectively used in the Operations.

Appears in 4 contracts

Samples: Consortium Agreement, Consortium Agreement, Consortium Agreement

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.