Withdrawal entitlement from site restoration fund limited to necessary expenditures for equipment removal and environmental restoration. Depositors may withdraw from the Site Restoration Fund only amounts necessary to meet expenditures on expiry, termination or relinquishment for removal of equipment and installations under an abandonment plan agreed with the Central Government, for site restoration in accordance with good international petroleum industry practice, and for other expenses necessary to prevent hazards to life, property or the environment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Withdrawal entitlement from site restoration fund limited to necessary expenditures for equipment removal and environmental restoration.
Depositors may withdraw from the Site Restoration Fund only amounts necessary to meet expenditures on expiry, termination or relinquishment for removal of equipment and installations under an abandonment plan agreed with the Central Government, for site restoration in accordance with good international petroleum industry practice, and for other expenses necessary to prevent hazards to life, property or the environment.
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