05.07.2009
If any piece of equipment is not able to undertake its proper task due to scheduling issues it charges stand-by time whilst it is waiting to commence work. For instance if a drilling rig cannot drill because of weather conditions or if a drilling operation has been performed, all tests have been conducted and the results of such tests furnished to the parties in a JOA agreement, stand by costs are incurred pending response to any party’s notice proposing an exclusive operation for deepening, testing, sidetracking, completing, plugging back, recompleting, reworking or other further operation in such well

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