171Offer document

#### 171 Offer document (1) If: (a) an application for the grant of a petroleum production licence has been made under: (i) section 168 or 170; or (ii) clause 2 or 4 of Schedule 4; and (b) the Joint Authority is satisfied that the area comprised in the block, or any one or more of the blocks, specified in the application contains petroleum; and (ba) the Joint Authority is satisfied that the technical advice and financial resources available to the applicant are sufficient to: (i) carry out the operations and works that will be authorised by the licence; and (ii) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the licence; and (c) in the case of an application for a Greater Sunrise unit reservoir petroleum production licence—section 172 has been complied with; and (d) in a case where (assuming that the applicant were granted a petroleum production licence over the block or blocks as to which the Joint Authority is satisfied as mentioned in paragraph (b)) the petroleum production licence would be a post‑commencement petroleum production licence, and: (i) the Joint Authority is satisfied that there is a significant risk that any of the operations that could be carried on under the petroleum production licence will have a significant adverse impact on operations that are being, or could be, carried on under a greenhouse gas assessment permit or a greenhouse gas holding lease; or (ii) if one or more identified greenhouse gas storage formations are wholly situated in the permit area of a greenhouse gas assessment permit or the lease area of a greenhouse gas holding lease—the Joint Authority is satisfied that there is a significant risk that any of the operations that could be carried on under the petroleum production licence will have a significant adverse impact on operations that could be carried on under a future greenhouse gas injection licence, where the identified greenhouse gas storage formation, or any of the identified greenhouse gas storage formations, is wholly situated in the licence area of the future greenhouse gas injection licence; the Joint Authority is satisfied that it is in the public interest for the petroleum production licence to be granted to the applicant; and (e) in a case where: (i) (assuming that the applicant were granted a petroleum production licence over the block or blocks as to which the Joint Authority is so satisfied as mentioned in paragraph (b)) the petroleum production licence would be a post‑commencement petroleum production licence; and (ii) the Joint Authority is satisfied that there is a significant risk that any of the operations that could be carried on under the petroleum production licence will have a significant adverse impact on operations that are being, or could be, carried on under a greenhouse gas injection licence; the Joint Authority is satisfied that: (iii) the registered holder of the greenhouse gas injection licence has agreed, in writing, to the grant of the petroleum production licence; and (iv) to the extent to which the agreement is a dealing to which Part 5.6 applies—the dealing has been approved under section 543 or is reasonably likely to be approved under that section; and (v) to the extent to which the agreement is a dealing to which Part 4.6 would apply if the petroleum production licence were to come into existence—it is reasonably likely that the dealing would, after the petroleum production licence comes into existence, be approved under section 493; and (f) the Joint Authority is satisfied of the matters (if any) prescribed by the regulations; the Joint Authority must give the applicant a written notice (called an offer document) telling the applicant that the Joint Authority is prepared to grant the applicant a petroleum production licence over the block or blocks as to which the Joint Authority is so satisfied as mentioned in paragraph (b). > Note 1: Section 168 and clause 2 of Schedule 4 deal with applications by permittees. > Note 2: Section 170 and clause 4 of Schedule 4 deal with applications by lessees. > Note 3: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions). > Note 4: If the applicant breaches a requirement under section 258 to provide further information, the Joint Authority may refuse to give the applicant an offer document—see subsection 258(3). Public interest (2) For the purposes of paragraph (1)(d), in considering whether the grant of the petroleum production licence is in the public interest, the Joint Authority must have regard to: (a) whether the registered holder of the greenhouse gas assessment permit or greenhouse gas holding lease, as the case may be, has agreed, in writing, to the grant of the petroleum production licence; and (b) if so—the terms of that agreement. (3) Subsection (2) does not limit the matters to which the Joint Authority may have regard. Deferral of decision (4) This section has effect subject to section 174.