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Offshore Petroleum and Greenhouse Gas Storage Act 2010
35Ascertainment of value of petroleum at wellhead
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35 Ascertainment of value of petroleum at wellhead
For the purposes of this Act, the value at the wellhead of any petroleum is—
(a) the amount that is agreed between a petroleum exploration permittee, petroleum retention lessee or petroleum production licensee and the Minister; or
(b) if there is no agreement as to the amount within the period allowed by the Minister for agreement to be reached—the amount determined by the Minister.