280Property in recovered petroleum

280 Property in recovered petroleum

(1) This section applies if petroleum is recovered—

(a) by a petroleum exploration permittee in the permit area; or

(b) by a petroleum retention lessee in the lease area; or

(c) by a petroleum production licensee in the licence area.

(2) The petroleum becomes the property of the permittee, lessee or licensee.

(3) The petroleum is not subject to any rights of other persons (other than a person to whom the permittee, lessee or licensee transfers, assigns or otherwise disposes of the petroleum or an interest in the petroleum).

S. 280(3A) inserted by No. 42/2024 s. 18(1).

(3A) This section does not apply in relation to petroleum that is recovered from a natural reservoir into which it was previously injected.

See also section 67A regarding the ownership of petroleum injected into a natural reservoir.

S. 280(4) amended by No. 42/2024 s. 18(2).

(4) Subsections (2), (3) and (3A) have effect subject to this Act.

See also Division 3 of Part 1.2 (which deals with apportionment of petroleum recovered from adjoining title areas).