Offshore Petroleum and Greenhouse Gas Storage Act 2010
148Simplified outline
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148 Simplified outline
S. 148(2) amended by No. 42/2024 s. 11(a).
It is an offence to recover petroleum, or carry on underground petroleum storage operations, in the offshore area except—
(a) under a petroleum production licence; or
(3) This Part provides for the grant of petroleum production licences over blocks in the offshore area.
S. 148(4) amended by No. 42/2024 s. 11(b).
(4) A petroleum production licence authorises the licensee to carry out petroleum recovery operations and underground petroleum storage operations in the licence area.
S. 148(5) amended by No. 16/2018 s. 23(a).
(5) There are 4 ways in which a petroleum production licence can be granted—
(a) grant of a petroleum production licence as a result of an application made by a petroleum exploration permittee or a petroleum retention lessee;
(b) grant of a petroleum production licence over a surrendered block or a similar block;
S. 148(5)(c) amended by No. 16/2018 s. 23(b).
(c) grant of a petroleum production licence over an individual block in exchange for another licence that was in force over the same block;
S. 148(5)(d) inserted by No. 16/2018 s. 23(c).
(d) grant of a petroleum production licence as a result of a change to the boundary of the offshore area.