Abandonment Cost definition

Abandonment Cost. Means all the costs, investments, expenses and obligations of the Oil Operations related to the Abandonment operations.
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Abandonment Cost means the estimated cost, calculated in accordance with the Assumption, in money of the day (i.e. at the predicted abandonment date) to the Purchaser and the other parties to each JOA of final abandonment and/or demolition and removal of all platforms, pipelines, plant, machinery, ▇▇▇▇▇ and facilities and other offshore installations and structures comprising the Interests together with any necessary site reinstatement as may be required by the Licences, other Licensed Interest Documents (to the extent that such documents affect the Seller or the Seller's Affiliates) and/or any Act of Parliament or any other statutory provision (including, without limitation, any order, regulation, instrument or other subordinate legislation) or common law in each case from time to time in force, after allowing for estimated salvage value (if any) and any other expected receipts arising from abandonment and/or demolition and removal (excluding tax and royalty relief);
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Examples of Abandonment Cost in a sentence

  • In the event that the said Necessary Amounts appear to be higher than the Abandonment Cost Estimates, any amounts in excess shall be posted to the credit of the Oil Costs Accounts and/or added as exceptional profits.

  • The Contractor shall open in its own name a bank account (the “Bank Account”) intended to receive, in Dollars or in any other convertible currency of its choosing, the amounts necessary to cover the Abandonment Cost Estimates (the “Necessary Amounts”).

  • The Amounts Necessary in order to cover the Abandonment Cost Estimates shall be recoverable Oil Costs and/or operating expenses recoverable for tax purposes.

  • The projected cost estimates for each Petroleum Field which have been reviewed and approved by Petrobangla shall hereinafter be referred to as "Abandonment Cost Estimates".

  • The Contractor shall be entitled to adjust the Abandonment Cost Estimates during the entire term of the Contract and shall indicate the amounts to be provided for in plus or minus in the annual report referred to in Article 18.2b) above or in any other documents approved by an agreement between the Parties.

  • These projected costs shall hereinafter be referred to as "Abandonment Cost Estimates".

  • The Contractor shall be entitled to adjust the Abandonment Cost Estimates during the entire term of the Contract and shall indicate the amounts to be provided for in plus or minus in the annual report referred to in Article 18.2.b) above or in any other documents approved by an agreement between the Parties.

  • Appendix 1, Stabilisation Plant - Abandonment Cost Model, row 5-8, divided by the estimated volume of Propane and Butane to be redelivered to Users and Other Users, expressed in tonnes, according to the Accumulated Condensate Production Profile and multiplied by the total volume of Propane and Butane, expressed in tonnes, which have been redelivered to Users and Other Users in such calendar year.

  • The Statement will contain aggregated information for the Year in the same format as required in the Value of Production, Pricing Statement, Royalty payable Statement, Abandonment Cost Reserve Fund Statement, Cost Recovery Statement and Statement of Receipts and Expenditure to be based on the actual quantities of Petroleum produced and the costs and expenses incurred.

  • ATTENDANCE OF BANK OFFICIALS.........................................................