Revenue Sharing Contract.pdf

222 within sixty 60 days after the end of each year

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22.2 Within sixty (60) days after the end of each Year, the Contractor shall provide the Government with a report outlining its achievements in utilising Indian resources during that Year in accordance with Section8 of Appendix C to this Contract. 22.3 In this Article “goods” means equipment, materials and supplies. ARTICLE 23 INSURANCE AND INDEMNIFICATION 23.1 Insurance 23.1.1 The Contractor shall, during the term of this Contract, maintain and obtain insurance coverage for and in relation to Petroleum Operations for such amounts and against such risks as are customarily or prudently insured in the international petroleum industry in accordance with
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49 Modern Oil Field and Petroleum Industry Practices, and shall within two (2) months of the date of policy or renewal furnish to the Government, certificates evidencing that such coverage is in effect. Such insurance policies shall include the Government as additional insured and shall waive subrogation against the Government. The said insurance shall, without prejudice to the generality of the foregoing, cover: (a) loss or damage to all installations, equipment and other assets for so long as they are used in or in connection with Petroleum Operations; provided however , that if for any reason the Contractor fails to insure any such installation, equipment or assets, it shall replace any loss thereof or repair any damage caused thereto; (b) loss, damage or injury caused by pollution in the course of or as a result of Petroleum Operations; (c) loss of property or damage or bodily injury suffered by any third party in the course of or as a resultof Petroleum Operations for which the Contractor may be liable; (d) any claim for which the Government may be liable relating to the loss of property or damage or bodily injury suffered by any third party in the course of or as a result of Petroleum Operations for which the Contractor is liable to indemnify the Government, or the State Government; (e) with respect to Petroleum Operations offshore, the cost of removing wrecks and cleaning up operations following any accident in the course of or as a result of Petroleum Operations; and (f) the Contractor’s and/or the Operator’s liability to its employees engaged in Petroleum Operations. 23.1.2 The Contractor shall require its Subcontractors to obtain and maintain insurance against the risks referred to in Article 23.1.1 relating mutatis mutandis to such Subcontractors. 23.2 Indemnity Subject to Article 4.6, the Contractor shall indemnify, defend and hold the Government, and the State Government harmless against all claims, losses and damages of any nature whatsoever, including, without limitation, claims for loss or damage to property or injury or death to persons caused by or resulting from any Petroleum Operations conducted by or on behalf of the Contractor.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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