Section 19, Oil Agreement (1979)(Ratification) Act, 1982

The Government shall, in the case of Clause 18--(a) and (d) andwhere it considers it appropriate, call upon the Companies while giving it notice of the intention of revoking this Agreement, to remedy the breach which has motivated the revocation, within a specified time limit. 20.. TERMINATION )This Agreement shall terminate automatically if upon the expiry of the expioration period as laid down in Clause 3 (a) no com mercially exploration field has been found. (ii) During the exploration and until commercial produetion is found, the Companies shall be at liberty to terminate this AgreemGnt on giving the Government not less than six (6) months notice in writing, provided it fulfils all its obligations up to the date of such termination. (ii) In case of serious and reported violations assumed hereunder, the Government may order the operations to be temporarily discontinued, pending decision concerning the action to be taken. (iv) Upon the expiry of the terms of this Agreement or of its termi nation in any other manner, all the installationsand immovable properties of tho Companies appropriated to the conduct of Authorised Operations shall be handed over gratuitously and in reasonably good condition to the Government. The government may, if it so desires, purchase all or any. of the Conpanies' movable properties at the acquisition price less depreciation. 20 No. 2 Exploraliorl, Mining and Processing Minerl 1982 Oil Agreement (1979) (Ratificalion) SETTLEMENT OF DISPUTES