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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(a) 
“Act” means the Petroleum Industry Act, 2021; 
 
(b) 
“year” means a period of a year from any day during the year. 
 
(c) “Fixed Contribution” is the fixed contribution in US$ per day, as determined in 
accordance with Table 1 of the Schedule to this Regulations; 
 
(d) “Midstream and Downstream Capital Expenditure” is the expenditure, 
characterised as expenditure of capital nature under the Companies 
Income Tax Act, incurred during a year for which the financial contribution is 
payable; 
 
(e) “CER” is the rate applicable to the capital expenditure, as determined in 
accordance with Table 1 of the Schedule to these Regulations; 
 
(f) “CL” 
is the average daily capacity of facilities under a licence during a 
year for which the financial contribution is payable, in barrels per day; 
 
(g) “CLR” is the rate in US$ per bbl/day for average daily capacity for liquid 
hydrocarbons (CL), as determined in accordance with Table 1 of the 
Schedule to these Regulations; 
 
(h) “CG” 
is the average daily capacity of facilities under a licence during a 
year for which the financial contribution is payable, in thousand cubic feet 
(Mcf) per day; 
 
(i) “CGR” is the rate in US$ per Mcf/day for average daily capacity for gaseous 
hydrocarbons (CG), as determined in accordance with Table 1 of the 
Schedule to these Regulations; 
 
 
Short title 
 
10. (1) These Regulations shall be cited as the Midstream and Downstream 
Environmental Remediation Fund Regulations.