162Duration of petroleum production licence

162 Duration of petroleum production licence

(1) A petroleum production licence remains in force indefinitely.

1 For special rules about the duration of licences granted over individual blocks, see section 179(3).

2 For the revocation of an initial petroleum production licence mentioned in section 178, see section 179(4).

3 For a special rule about when a petroleum production licence ceases to be in force following the grant of a petroleum retention lease, see section 140.

4 For the surrender of a petroleum production licence, see Part 2.12.

5 For the cancellation of a petroleum production licence, see Part 2.13.

6 For the termination of a life‑of‑field petroleum production licence if there have been no recovery operations for 5 years, see section 163.

S. 163 (Heading) amended by No. 42/2024 s. 14(1).

163 Termination of life‑of‑field petroleum production licence if no recovery operations or underground petroleum storage operations for 5 years

(a) there is a life-of-field petroleum production licence; and

S. 163(1)(b) amended by No. 42/2024 s. 14(2).

(b) no petroleum recovery operations or underground petroleum storage operations under the licence have been carried on at any time during a continuous period of at least 5 years—

the Minister may, by written notice given to the licensee, tell the licensee that the Minister proposes to terminate the licence after the end of 30 days after the notice is given.

(2) At any time after the end of 30 days after the notice is given to the licensee, the Minister may, by written notice given to the licensee, terminate the licence.

S. 163(3) amended by No. 42/2024 s. 14(2).

(3) In working out, for the purposes of subsection (1), the period in which no petroleum recovery operations or underground petroleum storage operations were carried on under a licence, disregard any period in which no such operations were carried on because of circumstances beyond the licensee's control.

(4) For the purposes of subsection (3), the depletion of recoverable petroleum is not a circumstance beyond the licensee's control.

(5) The Minister may give a copy of a notice under subsection (1) to such other persons (if any) as the Minister thinks fit.

(6) A notice under subsection (1) must—

(a) invite a person to whom the notice, or a copy of the notice, has been given to make a written submission to the Minister about the proposal to terminate the licence; and

(7) In deciding whether to terminate the licence, the Minister must take into account any submissions made in accordance with the notice.