Section 143 - Offshore Petroleum and Greenhouse Gas Storage Act 2010 - Renewal of petroleum retention lease—offer document

143Renewal of petroleum retention lease—offer document

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143 Renewal of petroleum retention lease—offer document

(1) This section applies if an application to renew a petroleum retention lease has been made under section 142.

(i) the conditions to which the petroleum retention lease is, or has from time to time been, subject;

(iii) the regulations; and

(b) the Minister is satisfied that recovery of petroleum from the lease area—

the Minister must give the applicant a written notice (called an offer document) telling the applicant that the Minister is prepared to renew the lease.

Section 255 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).

(i) the conditions to which the petroleum retention lease is, or has from time to time been, subject; or

(b) the Minister is satisfied that there are sufficient grounds to warrant the granting of the renewal of the petroleum retention lease; and

the Minister may give the applicant a written notice (called an offer document) telling the applicant that the Minister is prepared to renew the lease.

Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).