Library / Midstream and Downstream Environmental Remediation Fund Regulations Draft Date: 10/06/2022 Establishment of the Fund 1. (1) These Regulations are made for the administration of the Environmental

Midstream and Downstream Environmental Remediation Fund Regulations Draft Date: 10/06/2022 Establishment of the Fund 1. (1) These Regulations are made for the administration of the Environmental

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Midstream and Downstream Environmental Remediation Fund Regulations 
 
Draft Date: 10/06/2022 
 
 
Establishment of the Fund 
 
1. (1) These Regulations are made for the administration of the Environmental 
Remediation Fund (“ Fund”) established by the provision of Section 103 of the Act. 
 
(2) The Fund is established for midstream and downstream petroleum operations 
carried out under licences, permits and authorisations administered by the 
Authority. 
 
(3) The Authority shall administer and manage the Fund in accordance with these 
Regulations and other applicable laws.  
 
(4) The Fund shall be financed by prescribed financial contributions from 
licencees conducting the Midstream and downstream petroleum operations 
 
Utilisation of the Fund 
 
2. (1) The Fund shall be utilised to provide funding for the management of 
environmental impact, rehabilitation of negative environmental impacts caused 
by midstream and downstream petroleum activities or operations, except where 
such activities or operations are in accordance with section 8(d) of the Act.   
 
(2) The funding referred to in Regulation 2 (1) shall only be used where a licencee 
fails to rehabilitate or manage or is unable to undertake rehabilitation or 
management of any negative impact on the environment.  
 
(3) Where the Authority determines to apply the Fund to rehabilitate or manage 
the negative environmental impact relating to a particular licence, the Authority 
shall provide a written notice to the holder of such licence that it has defaulted 
to fulfil its obligation. 
 
(4) Where the Authority determines to apply the Fund, the procurement of any 
goods, works or services required for the utilisation of the Fund shall be subject to 
the Public Procurement Act.