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Offshore Petroleum and Greenhouse Gas Storage Act 2006
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Turn the raw legal text into a practical explanation grounded in Offshore Petroleum and Greenhouse Gas Storage Act 2006.
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Scope
(1) This section applies if a greenhouse gas holding lease (the greenhouse gas lease) is granted under section 345 to the registered holder of a petroleum retention lease (the petroleum lease).
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(2) For the purposes of this Act, each of the following:
(a) the greenhouse gas lease;
(b) a greenhouse gas holding lease granted by way of renewal of the greenhouse gas lease;
(c) a greenhouse gas injection licence derived from a lease referred to in paragraph (a) or (b);
is tied to each of the following:
(d) the petroleum lease;
(e) a petroleum retention lease granted by way of renewal of the petroleum lease;
(f) a petroleum production licence derived from a lease referred to in paragraph (d) or (e).