Continuation Premium

In case project developers have been awarded GRMF grants for undertaking drilling programme activities and decide to further develop their project after the initial successful resource exploration (after implementation of the GRMF-cofunded drilling programme), depending on the availability of funds, the GRMF Facility may provide additional financial support in form of a Continuation Premium (CP) grant.

Complementary to the initial grant funding, eligible activities for the CP – to be undertaken for the same site as the initial drilling and testing programme, comprise the following:

  • Additional full size well. AWC-Guidelines according to Grant Contract apply;
  • Well-head unit(s) installation;
  • Long term discharge testing ((minimum 3 months, maximum 9 months);
  • Reservoir evaluation update;
  • Feasibility Study.

 

The maximum extent to which financing is provided by the Continuation Premium is restricted according to a double-cap base; whichever is lower applies:

  • Up to 30% of the approved eligible and expended costs of continuation activities or,
  • Up to 30% of the developer’s share of the eligible and expended costs incurred during the initial drilling and testing programme (excluding infrastructure upgrades).

 

Updated / new GRMF documents providing an overview on Continuation Premium notification, application and monitoring of activities will be availed here as soon as these are approved: