Emergency Expenditures associated with a leased FPSO?

Asked by ekwuemesam 6 years, 1 month ago | 1 Answers

What are the typical Emergency Expenditures associated with a leased FPSO?


1 Answer

0
Normandy 6 years, 1 month ago
Contractor is usually authorized without prior approval to make any reasonably necessary expenditure or incur commitments for expenditures or to take any actions Contractor deems necessary in the case of emergency for the safeguarding of lives or property or the prevention or mitigation of pollution. However, Contractor shall notify the Operating Company of any such circumstances and the amount of expenditures and commitments for expenditures so made and incurred and actions so taken and such expenditures and commitments shall be reflected in an updated Approved Budget.

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