China Issues Provisional Regulations for the Abandonment of Offshore Petroleum Facilities.
Mondaq Business Briefing › Nbr. 2010, January 2010
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Legislation
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China Issues Provisional Regulations for the Abandonment of Offshore Petroleum Facilities.
This Commentary is intended to provide an outline of the legal and regulatory framework in The People's Republic of China relevant to abandonment, to summarize China's new regulations on abandonment, and to identify areas of concern arising from these new regulations.
On June 23, 2010, the National Development and Reform Commission, the National Energy Administration, the Ministry of Finance, the State Administration of Taxation, and the State Oceanic Administration (the "Issuing Authorities") jointly enacted the Provisional Regulations on Administration and Management of the Abandonment of Offshore Oil and Gas Producing Facilities (the "Abandonment Regulations").1 The Abandonment Regulations were issued through a notice from the Issuing Authorities to the three national oil and gas companies ("NOCs") in China, i.e., China National Petroleum Corporation ("CNPC"), China ...See the full content of this document
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