Common use of Decommissioning Plan Clause in Contracts

Decommissioning Plan. (a) No later than six (6) months before the commencement of the Decommissioning Payment Period, or if this Agreement is earlier terminated under Section 3.3 (excluding Section 3.3.7 and Section 3.3.12) or Section 15.3, no later than sixty (60) days after such termination, Owner shall deliver to the Management Committee a statement that sets forth in reasonable detail (i) Owner’s estimation of (A) the Decommissioning Costs and Salvage Proceeds and, unless this Agreement is terminated early under Section 3.3 or Section 15.3, the Levelized Monthly Decommissioning Payment derived therefrom, and (B) any activities associated with either thereof and (ii) the scope and frequency of informational progress reports with respect to the Decommissioning of the Northern Pass Transmission Line, including the process for the recovery by Owner of its actual Net Decommissioning Costs following the exhaustion of the Decommissioning Fund prior to the completion of Decommissioning (collectively, the "Decommissioning Plan"). At the request of Purchaser’s Manager, Owner shall provide the Management Committee with access to, and copies of, all reasonably requested documentation concerning such Decommissioning Plan. (b) The Management Committee shall attempt to agree upon the Decommissioning Plan within sixty (60) days following its receipt thereof, and the Management Committee may approve the proposed Decommissioning Plan in whole or in part. If an Impasse occurs with respect to the proposed Decommissioning Plan (or any part thereof), then the matter shall be resolved pursuant to the arbitration provisions set forth in Section 18.3. (c) Owner shall use commercially reasonable efforts not to exceed the estimated amounts set forth in the Decommissioning Plan approved by the Management Committee (or determined pursuant to the dispute resolution provisions herein in the event of an Impasse with respect thereto); provided, however, that all Net Decommissioning Costs actually incurred by Owner, whether or not set forth in such Decommissioning Plan, shall be recoverable under this Agreement in accordance with this Section 9.3, subject to (i) reallocation upon a Subsequent Use, if any, as described in Section 9.3.4, and (ii) challenge on prudence grounds, if applicable, as described in Section 9.3.6.

Decommissioning Plan. 34.1 No later than …….. months prior to the termination of production if in the reasonable expectation of the Participants, such one or more structure, installation or facility will cease to be used permanently under this PSC, the Operator shall submit to the management committee, unless determined otherwise by applicable Malagasy law a proposal for a plan to undertake the orderly Decommissioning of a structure, installation or facility The obligation to prepare a plan for Decommissioning applies mutatis mutandis when the PSC expires, is revoked or surrendered. The Government may exempt or modify the obligation to prepare and submit a plan for Decommissioning to the management committee when agreed among the Parties and warranted by law. 34.2 When a proposal for a plan for Decommissioning has been agreed between the Parties it shall be submitted to OMNIS, for approval, at the earliest …… and not later than 34.3 The Decommissioning Plan shall be prepared in accordance with applicable law and shall include but not be limited to: (a) No later than six (6) months before the commencement particulars of the Decommissioning Payment Periodmeasures to be taken, or if this Agreement is earlier terminated under Section 3.3 (excluding Section 3.3.7 and Section 3.3.12) or Section 15.3, no later than sixty (60) days after such termination, Owner shall deliver to the Management Committee a statement that sets forth in reasonable detail effect decommissioning including but not limited to: (i) Owner’s estimation decommissioning of (A) the Decommissioning Costs equipment and Salvage Proceeds and, unless this Agreement is terminated early under Section 3.3 or Section 15.3, the Levelized Monthly Decommissioning Payment derived therefrom, and (B) any activities associated with either thereof and installations for each Contract Area; (ii) timely removal of facilities and equipment not required for ongoing Petroleum Operations in any area outside the scope and frequency of informational progress reports with respect Contract Area; and (iii) any other steps that may reasonably be required in order to prevent hazard to human life, to the Decommissioning property of the Northern Pass Transmission Line, including the process for the recovery by Owner of its actual Net Decommissioning Costs following the exhaustion of the Decommissioning Fund prior others or to the completion of Decommissioning (collectively, the "Decommissioning Plan"). At the request of Purchaser’s Manager, Owner shall provide the Management Committee with access to, and copies of, all reasonably requested documentation concerning such Decommissioning Planenvironment. (b) The Management Committee shall attempt estimates of the time required to agree upon complete operations under the Decommissioning Plan within sixty (60) days following its receipt thereof, and the Management Committee may approve the proposed Decommissioning Plan in whole or in part. If an Impasse occurs plan including a progress plan with respect to the proposed Decommissioning Plan (or any part thereof), then the matter shall be resolved pursuant to the arbitration provisions set forth in Section 18.3.milestones; (c) Owner a budget for operations under the Decommissionning plan, including particulars of the costs of decommissioning facilities and equipment; (d) a schedule of breakdowns from the fund established for meeting Decommissioning costs in order to meet the costs of implementing the proposed plan; and (e) such environmental, engineering and feasibility studies as may be necessary to support the proposed plan. 34.4 The plan for Decommissioning shall use commercially reasonable efforts be prepared in compliance with applicable law, the provisions of this Article and shall ensure that decommissioning is conducted in a manner which will give effect to standards generally recognized as applicable in the international petroleum industry and when applicable the Participant’s standards for decommissioning. 34.5 In the event that the Participants do not submit a plan for Decommissioning to exceed OMNIS within the time allowed by the authority a notice may be served upon the Participants requiring the Participants to submit , within a period of ninety (90) days from date on which the notice was served, a plan for Decommissioning. If within that period no plan for Decommissioning is submitted, OMNIS may commission consultants of international standing to prepare a plan for Decommissioning. 34.6 A plan for Decommissioning prepared by a consultant in accordance with applicable law and this PSC shall be implemented by the Operator and if the Operator fails in implementing the plan by one of the Participants in accordance with its terms as though it were an obligation of the Participants. The cost of commissioning engineering consultants to prepare a consultant’s proposed plan for Decommissioning plan shall be payable by the Participants and may be recovered from the Decommissioning fund. 34.7 In the event that the Participants considers that production will cease before a plan for Decommissioning has been prepared, Decommissioning measures for that particular facility be prepared by the Operator in accordance with the requirement for Decommissioning set out in this Article, and where those measures have been approved by OMNIS shall take effect as an amendment to the plan for Development of the Exploitation Area. Decommissioning funds 34.8 The Participants shall establish in a bank of its choice a separate interest bearing account or such other currency account to be mutually agreed by the Parties in a first class international bank in Europe or United States. The fund shall be denominated as the Decommissioning Fund into which the Participants shall pay from time to time amounts in order to meet the estimated costs of implementing an approved plan for Decommissioning. 34.9 Any fund allocated to cover a provisional cost related to Decommissioning of facilities and equipment and termination of production shall be established for each Exploitation Area, and the deposit of the said fund shall start at the latest: i) five (5) years before the termination of use of facilities, or ii) when 50% of Petroleum reserves have been produced. 34.10 The Participants shall be jointly and severally liable for any cost related to decommissioning and shut down as well as any removal operations and shall for this purpose supply this bank account regularly so it will permit him to dispose sufficient fund to cover the provisional cost of withdraw and closure. 34.11 Any amounts deposited to the fund shall be recovered as Petroleum Costs in accordance with the provisions applicable to this PSC. 34.12 The Participants shall not withdraw money from the Decommissioning Fund save for the purpose of covering the costs of implementing an approved plan for Decommissioning and all statements relating to the Decommissioning Fund provided by the bank from time to time shall be copied to OMNIS and the competent Malagasy authority. 34.13 Costs incurred by the Participants to implement an approved plan for Decommissioning shall unless they are recovered from the Decommissioning Fund be cost recoverable in accordance with provisions in that regard set forth out in Article 23. 34.14 In the event that at the time of implementing the plan for Decommissioning, there are insufficient funds available in the Decommissioning Plan approved Fund to fund the implementation of the plan, then that shortfall shall be paid in full by the Management Committee (or determined pursuant to Participants. 34.15 If the dispute resolution provisions herein in total amount of the event funds exceeds the effective costs of an Impasse with respect thereto); providedthe Decommissioning of facilities and termination of production from the Exploitation Area, however, that all Net Decommissioning Costs actually incurred by Owner, whether or not set forth in such Decommissioning Plan, the remaining balance including interest accrued shall be recoverable under this Agreement shall be treated as Profit Petroleum and the remaining balance shall be shared in accordance with this Section 9.3, the provision of Article 24 according to the established split between OMNIS and the Participants. Participants' share of the proceeds shall be subject to (i) reallocation upon a Subsequent Use, if any, as described in Section 9.3.4, and (ii) challenge applicable taxes on prudence grounds, if applicable, as described in Section 9.3.6profit earned on Petroleum activities.

Decommissioning Plan. (a) No later than six Contractor shall prepare and submit a Decommissioning Plan to ANPM for approval either upon the ANPM’s request, or two (62) months before Contract Years after the commencement of Production. (b) Except if subsequent changes in circumstances require otherwise, the Decommissioning Payment Period, or if this Agreement is earlier terminated under Section 3.3 Plan shall be prepared based on the information provided on Decommissioning in the Development Plan. (excluding Section 3.3.7 c) The Decommissioning Plan shall provide the basis for an evaluation of relevant Decommissioning options and Section 3.3.12) or Section 15.3, no later than sixty (60) days after such termination, Owner shall deliver to the Management Committee include a statement that sets forth in reasonable detail description of: (i) Owner’s estimation The Petroleum Operations related to the relevant Field(s) throughout the lifetime of (A) the Decommissioning Costs and Salvage Proceeds and, unless this Agreement is terminated early under Section 3.3 or Section 15.3, the Levelized Monthly Decommissioning Payment derived therefrom, and (B) any activities associated with either thereof and Field(s); (ii) All relevant Facilities and ▇▇▇▇▇, including information on their location, depth and types of material; (iii) The possibilities of continued Production; (iv) Decommissioning options, including possible technical, safety related and environmental related aspects, and relationship to and expected impact on other land users or potentially affected Persons and local communities; (v) Recommended option for Decommissioning, including cost estimates, timeframes, anticipated date for commencement of Decommissioning, and the scope reasons for the relevant option being recommended and frequency for the rejection of informational progress reports with respect other options; (vi) Measures designed to secure the Decommissioning Contract Area against possible pollution and clean-up of such areas; (vii) Details of all required environmental documents required under the Applicable Law in Timor-Leste; (viii) Estimate of the Northern Pass Transmission Line, including the process for the recovery by Owner of its actual Net expected total Decommissioning Costs following the exhaustion costs; (ix) The arrangement and management of the Decommissioning Fund prior Fund; (x) The anticipated date for permanent cessation of the use of the relevant Facility or the relevant Petroleum Operations; (xi) Any other authorisations, licenses, approvals or permits required in order to carry out the completion recommended Decommissioning option; (xii) Description of the implementation, management and verification of the Decommissioning Plan in accordance with Applicable Law in Timor-Leste; and (collectivelyxiii) Such other information as ANPM may require. (d) In the event Contractor does not meet the requirements listed in Article 6.1(c) above, ANPM has the "Decommissioning Plan"). At right to instruct Contractor to complete and resubmit or reject the request of Purchaser’s Manager, Owner shall provide the Management Committee with access to, and copies of, all reasonably requested documentation concerning such Decommissioning Plan. (be) The Management Committee shall attempt ANPM may waive to agree upon or modify the requirements of the Decommissioning Plan within sixty (60) days following its receipt thereof, and the Management Committee may approve the proposed Decommissioning Plan in whole or in part. If an Impasse occurs with respect to the proposed Decommissioning Plan (or any part thereof), then the matter shall be resolved pursuant to the arbitration provisions set forth in Section 18.3Plan. (cf) Owner This Article shall use commercially reasonable efforts not to exceed the estimated amounts set forth in the Decommissioning Plan approved by the Management Committee (or determined pursuant to the dispute resolution provisions herein apply in the event of an Impasse with respect thereto); provided, however, that all Net earlier termination of this Contract. (g) The Contractor shall prepare and implement the approved Decommissioning Costs actually incurred by Owner, whether or not set forth in such Decommissioning Plan, shall be recoverable under this Agreement Plan in accordance with this Section 9.3Contract, subject to (i) reallocation upon a Subsequent Use, if any, as described the Applicable Law in Section 9.3.4, Timor-Leste and (ii) challenge on prudence grounds, if applicable, as described in Section 9.3.6Good Oil Field Practice.

Decommissioning Plan. (a) No later than six (6) months before the commencement of the Decommissioning Payment Period, or if this Agreement is earlier terminated under Section 3.3 (excluding Section 3.3.7 and Section 3.3.12) or Section 15.3, no later than sixty (60) days after such termination, Owner shall deliver to the Management Committee a statement that sets forth in reasonable detail (i) Owner’s estimation of (A) the Decommissioning Costs and Salvage Proceeds and, unless this Agreement is terminated early under Section 3.3 or Section 15.3, the Levelized Monthly Decommissioning Payment derived therefrom, and (B) any activities associated with either thereof and (ii) the scope and frequency of informational progress reports with respect to the Decommissioning of the Northern Pass Transmission Line, including the process for the recovery by Owner of its actual Net Decommissioning Costs following the exhaustion of the Decommissioning Fund prior to the completion of Decommissioning (collectively, the "“Decommissioning Plan"”). At the request of Purchaser’s Manager, Owner shall provide the Management Committee with access to, and copies of, all reasonably requested documentation concerning such Decommissioning Plan. (b) The Management Committee shall attempt to agree upon the Decommissioning Plan within sixty (60) days following its receipt thereof, and the Management Committee may approve the proposed Decommissioning Plan in whole or in part. If an Impasse occurs with respect to the proposed Decommissioning Plan (or any part thereof), then the matter shall be resolved pursuant to the arbitration provisions set forth in Section 18.3. (c) Owner shall use commercially reasonable efforts not to exceed the estimated amounts set forth in the Decommissioning Plan approved by the Management Committee (or determined pursuant to the dispute resolution provisions herein in the event of an Impasse with respect thereto); provided, however, that all Net Decommissioning Costs actually incurred by Owner, whether or not set forth in such Decommissioning Plan, shall be recoverable under this Agreement in accordance with this Section 9.3, subject to (i) reallocation upon a Subsequent Use, if any, as described in Section 9.3.4, and (ii) challenge on prudence grounds, if applicable, as described in Section 9.3.6.

Decommissioning Plan. (a) No later than six (6) months before the commencement of the Decommissioning Payment Period, or if this Agreement is earlier terminated under Section 3.3 (excluding Section 3.3.7 and Section 3.3.12) or Section 15.3, no later than sixty (60) days after such termination, Owner shall deliver to the Management Committee a statement that sets forth in reasonable detail (i) Owner’s 's estimation of (A) the Decommissioning Costs and Salvage Proceeds and, unless this Agreement is terminated early under Section 3.3 or Section 15.3, the Levelized Monthly Decommissioning Payment derived therefrom, and (B) any activities associated with either thereof and (ii) the scope and frequency of informational progress reports with respect to the Decommissioning of the Northern Pass Transmission Line, including the process for the recovery by Owner of its actual Net Decommissioning Costs following the exhaustion of the Decommissioning Fund prior to the completion of Decommissioning (collectively, the "Decommissioning Plan"). At the request of Purchaser’s 's Manager, Owner shall provide the Management Committee with access to, and copies of, all reasonably requested documentation concerning such Decommissioning Plan. (b) The Management Committee shall attempt to agree upon the Decommissioning Plan within sixty (60) days following its receipt thereof, and the Management Committee may approve the proposed Decommissioning Plan in whole or in part. If an Impasse occurs with respect to the proposed Decommissioning Plan (or any part thereof), then the matter shall be resolved pursuant to the arbitration provisions set forth in Section 18.3. (c) Owner shall use commercially reasonable efforts not to exceed the estimated amounts set forth in the Decommissioning Plan approved by the Management Committee (or determined pursuant to the dispute resolution provisions herein in the event of an Impasse with respect thereto); provided, however, that all Net Decommissioning Costs actually incurred by Owner, whether or not set forth in such Decommissioning Plan, shall be recoverable under this Agreement in accordance with this Section 9.3, subject to (i) 1014917.31-D.C. Server 1A - MSW reallocation upon a Subsequent Use, if any, as described in Section 9.3.4, and (ii) challenge on prudence grounds, if applicable, as described in Section 9.3.6.