185Renewal of fixed‑term petroleum production licence—offer document

#### 185 Renewal of fixed‑term petroleum production licence—offer document Scope (1) This section applies if an application to renew a fixed‑term petroleum production licence has been made under section 184. Offer document—compliance with conditions etc., first renewal (2) If: (a) each of the following has been complied with: (i) the conditions to which the petroleum production licence is, or has from time to time been, subject; (ii) the provisions of this Chapter, Chapter 4, Chapter 5A, Chapter 6 and Part 7.1; (iii) the regulations; and (b) the application is for the first renewal of the petroleum production licence; and (c) 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 (d) 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 renew the licence. > Note: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions). Offer document—compliance with conditions etc., second renewal, recovery of petroleum (3) If: (a) each of the following has been complied with: (i) the conditions to which the petroleum production licence is, or has from time to time been, subject; (ii) the provisions of this Chapter, Chapter 4, Chapter 5A, Chapter 6 and Part 7.1; (iii) the regulations; and (b) both: (i) the application is for the second renewal of the petroleum production licence; and (ii) petroleum recovery operations have been carried on in the licence area within 5 years before the application for the renewal was made; and (c) 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 (d) 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 renew the licence. > Note: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions). Offer document—non‑compliance with conditions etc., sufficient grounds to warrant renewal (4) If: (a) any of: (i) the conditions to which the petroleum production licence is, or has from time to time been, subject; or (ii) the provisions of this Chapter, Chapter 4, Chapter 5A, Chapter 6 and Part 7.1; or (iii) the provisions of the regulations; have not been complied with; and (b) the Joint Authority is satisfied that there are sufficient grounds to warrant the renewal of the petroleum production licence; the Joint Authority may give the applicant a written notice (called an offer document) telling the applicant that the Joint Authority is prepared to renew the licence. (5) Without limiting paragraph (4)(b), in deciding whether to be satisfied that there are sufficient grounds to warrant the granting of the renewal of the licence, the Joint Authority must have regard to: (a) whether 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 (b) any other matters prescribed by the regulations. > Note: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).