284Simplified outline

284 Simplified outline

 It is an offence to explore in the offshore area for a potential greenhouse gas storage formation, or a potential greenhouse gas injection site, except—

(a) under a greenhouse gas assessment permit; or

 This Part provides for the grant of greenhouse gas assessment permits over blocks in the offshore area.

 A greenhouse gas assessment permit authorises the permittee to explore in the permit area for potential greenhouse gas storage formations and potential greenhouse gas injection sites.

 There are 2 types of greenhouse gas assessment permits—

(a) a greenhouse gas assessment permit granted on the basis of work program bidding (a work‑bid greenhouse gas assessment permit);

(b) a greenhouse gas assessment permit granted on the basis of cash bidding (a cash‑bid greenhouse gas assessment permit).

 If an eligible greenhouse gas storage formation is identified in a greenhouse gas permit area, the Minister may declare that the formation is an identified greenhouse gas storage formation.

285 Prohibition of unauthorised exploration for potential greenhouse gas storage formation, or potential greenhouse gas injection site, in offshore area

A person must not intentionally explore for—

(a) a potential greenhouse gas storage formation; or

(b) a potential greenhouse gas injection site—

in the offshore area unless that exploration is authorised by a greenhouse gas assessment permit or is otherwise authorised or required to do so by or under this Act.