147Application for petroleum retention lease by the holder of a life‑of‑field petroleum production licence

#### 147 Application for petroleum retention lease by the holder of a life‑of‑field petroleum production licence (1) If: (a) a life‑of‑field petroleum production licence is in force over a block or blocks; and (b) the following conditions are satisfied in relation to an area (the unused area) that consists of the block or any or all of the blocks: (i) petroleum has been found to exist in the unused area; (ii) no petroleum recovery operations are being carried on under the licence in relation to the unused area; the licensee may, within the application period, apply to the Titles Administrator for the grant by the Joint Authority of a petroleum retention lease over the unused area. > Note: For application period, see subsection (3). (2) An application under this section must: (a) be in the approved form; and (b) be accompanied by any information or documents required by the form. (2A) If the approved form requires the application to be accompanied by information or documents, an application under this section is taken to be accompanied by the information or documents if the information or documents are given to the Titles Administrator before the end of the application period. > Note 1: Part 2.10 contains additional provisions about application procedures. > Note 2: Section 256 requires the application to be accompanied by an application fee. > Note 3: Section 258 enables the Titles Administrator to require the applicant to give further information. Application period (3) The application period for an application under this section by a petroleum production licensee is the period of 5 years that began on: (a) the day on which the licence was granted; or (b) if any petroleum recovery operations have been carried on under the licence in relation to the unused area—the last day on which any such operations were so carried on.