137Declared petroleum retention lease—approval by responsible Commonwealth Minister of key petroleum operations

#### 137 Declared petroleum retention lease—approval by responsible Commonwealth Minister of key petroleum operations (1) The registered holder of a declared petroleum retention lease may apply to the responsible Commonwealth Minister for approval to carry on one or more key petroleum operations under the lease. (2) If an application for approval is made under subsection (1), the responsible Commonwealth Minister may: (a) give the approval; or (b) by written notice given to the applicant, refuse to give the approval. Responsible Commonwealth Minister must have regard to certain matters (3) In deciding whether to give the approval, the responsible Commonwealth Minister must comply with subsections (4), (5), (6) and (7). (4) The responsible Commonwealth Minister must have regard to the impact (if any) that any of those key petroleum operations could have on: (a) operations for the injection of a greenhouse gas substance; or (b) operations for the storage of a greenhouse gas substance; that are being, or could be, carried on under: (c) an existing greenhouse gas assessment permit; or (d) an existing greenhouse gas holding lease; or (e) an existing greenhouse gas injection licence; or (f) if a greenhouse gas assessment permit or a greenhouse gas holding lease is in force over a block or blocks: (i) a future greenhouse gas holding lease over the block or any of the blocks; or (ii) a future greenhouse gas injection licence over the block or any of the blocks. (5) If the responsible Commonwealth Minister is satisfied that there is a significant risk that any of those key petroleum operations will have a significant adverse impact on: (a) operations for the injection of a greenhouse gas substance; or (b) operations for the storage of a greenhouse gas substance; that are being, or could be, carried on under: (c) an existing greenhouse gas assessment permit held by a person other than the applicant; or (d) an existing greenhouse gas holding lease held by a person other than the applicant; or (e) an existing greenhouse gas injection licence held by a person other than the applicant; the responsible Commonwealth Minister must have regard to: (f) whether the registered holder of the greenhouse gas assessment permit, greenhouse gas holding lease or greenhouse gas injection licence, as the case may be, has agreed, in writing, to the applicant carrying on the key petroleum operations in respect of which the responsible Commonwealth Minister is so satisfied; and (g) if so—the terms of that agreement. (6) If: (a) the responsible Commonwealth Minister is satisfied that there is a significant risk that any of those key petroleum operations will have a significant adverse impact on: (i) operations for the injection of a greenhouse gas substance; or (ii) operations for the storage of a greenhouse gas substance; that could be carried on under: (iii) a future greenhouse gas holding lease over a block or blocks; or (iv) a future greenhouse gas injection licence over a block or blocks; and (b) a greenhouse gas assessment permit, greenhouse gas holding lease or greenhouse gas injection licence is in force over the block or any of the blocks; and (c) the greenhouse gas assessment permit, greenhouse gas holding lease or greenhouse gas injection licence is held by a person other than the applicant; the responsible Commonwealth Minister must have regard to: (d) whether the registered holder of the greenhouse gas assessment permit, greenhouse gas holding lease or greenhouse gas injection licence covered by paragraph (b) has agreed, in writing, to the applicant carrying on the key petroleum operations in respect of which the responsible Commonwealth Minister is so satisfied; and (e) if so—the terms of that agreement. (7) The responsible Commonwealth Minister must have regard to the public interest. (8) Subsections (4), (5) and (6) do not limit subsection (7). (9) Subsections (4), (5), (6) and (7) do not limit the matters to which the responsible Commonwealth Minister may have regard. Responsible Commonwealth Minister must not give approval in certain circumstances (10) If the responsible Commonwealth Minister is satisfied that there is a significant risk that any of those key petroleum operations will have a significant adverse impact on: (a) operations for the injection of a greenhouse gas substance; or (b) operations for the storage of a greenhouse gas substance; that are being, or could be, carried on under an existing greenhouse gas injection licence, the responsible Commonwealth Minister must not give the approval unless the registered holder of the greenhouse gas injection licence has agreed, in writing, to the applicant carrying on the key petroleum operations in respect of which the responsible Commonwealth Minister is so satisfied. No right to an approval (11) To avoid doubt, section 135 does not imply that a petroleum retention lessee who applies for approval under subsection (1) of this section is entitled to be given the approval. Suspension of rights (12) For the purposes of this section, disregard a suspension of rights under section 438.