150Rights conferred by petroleum production licence

150 Rights conferred by petroleum production licence

(1) A petroleum production licence authorises the licensee, in accordance with the conditions (if any) to which the licence is subject—

(a) to recover petroleum in the licence area; and

(b) to recover petroleum from the licence area in another area to which the licensee has lawful access for that purpose; and

(c) to explore for petroleum in the licence area; and

S. 150(1)(ca) inserted by No. 42/2024 s. 13.

(ca) to inject into and store petroleum in natural reservoirs from which petroleum was previously recovered in the licence area for the purpose of later recovering it; and

S. 150(1)(cb) inserted by No. 42/2024 s. 13.

(cb) to recover petroleum from a natural reservoir in the licence area into which the petroleum was previously injected under paragraph (ca); and

(d) to carry on such operations, and execute such works, in the licence area as are necessary for those purposes.

(2) Express references in this Act to the injection or storage of a substance do not imply that subsection (1) does not operate so as to authorise the licensee—

(b) to carry on operations to store (whether on a permanent basis or otherwise) a substance in the seabed or subsoil of the offshore area.

(3) The regulations may provide that a petroleum production licence authorises the licensee, in accordance with the conditions (if any) to which the licence is subject—

(a) to explore in the licence area for a potential greenhouse gas storage formation; and

(b) to explore in the licence area for a potential greenhouse gas injection site; and

(c) to carry on such operations, and execute such works, in the licence area as are necessary for those purposes.

(4) The regulations may provide that, if—

(a) petroleum is recovered in the licence area of a petroleum production licence (the first licence); and

(b) operations for the recovery or processing of the petroleum are carried on using a facility located in the licence area of another petroleum production licence (the second licence); and

(c) a prescribed substance (which may be a hydrocarbon) is recovered as an incidental consequence of the recovery of the petroleum—

the second licence authorises the licensee of the second licence, in accordance with the conditions (if any) to which the second licence is subject—

(d) to inject the substance into the seabed or subsoil of the licence area of the second licence; and