RES Operations definition
RES Operations means all operations of any nature whatsoever as necessary to assure in the Exploitation Zone, the remediation of the sites, i.e, assuring the safety and final abandonment of the ▇▇▇▇▇, complete or partial dismantling of the installations and the immersion or elimination of the materials or waste resulting from dismantling, which operations must be carried out according to the rules of the art current in the oil industry at the time of their performance for optimal protection of the environment; Participation of the State means the participation percentage held by it in the rights and obligations of Contractor under the conditions specified in Article 19;
Examples of RES Operations in a sentence
The validity of the Contract is extended for this purpose, especially for the completion of the RES Operations.
If the amounts paid into the RES Account prove to be insufficient to finance all RES Operations, the provisions of Article 14.15 (4) will apply.