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Originally Posted by Locke
Okay...my only issue with that is the 'offset plan' for environmental damages.
Not that I'm not in favour of that per se, but that I was under the impression that this was standard in most plans of this type and magnitude.
In my experience with O&G contracts, there is always an account set up for environmental recovery and repair. Am I wrong on this? I'm surprised that this is an additional contingency/add-on.
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Lots of the conditions end up being show us you are doing what you said you would do.
So in the ap they might say they will secure 300 million environmental bond for clean up. The condition would be lifted once they showed evidence and t+cs for that bond.