395Grant of greenhouse gas injection licence—offer document

395 Grant of greenhouse gas injection licence—offer document

If—

(a) an application for a greenhouse gas injection licence has been made under section 392 by the registered holder of a petroleum production licence; and

(b) the Minister is satisfied that, if the greenhouse gas injection licence were granted to the applicant, the applicant will, within 5 years after the grant, commence operations to—

(i) inject a greenhouse gas substance into the identified greenhouse gas storage formation or formations concerned; and

(ii) permanently store the greenhouse gas substance in the identified greenhouse gas storage formation or formations concerned; and

S. 395(c)(i) amended by No. 42/2024 s. 27(a).

(i) the Minister is satisfied that all of the greenhouse gas substance injected into the identified greenhouse gas storage formation or formations concerned will be obtained as a by‑product of petroleum recovery operations or underground petroleum storage operations carried on under the petroleum production licence; or

S. 395(c)(ii) amended by No. 42/2024 s. 27(a).

(ii) the Minister is satisfied that some or all of the greenhouse gas substance injected into the identified greenhouse gas storage formation or formations concerned will be obtained as a by‑product of petroleum recovery operations or underground petroleum storage operations carried on under any petroleum production licence, and that the grant of the greenhouse gas injection licence is in the public interest; and

S. 395(d) amended by No. 42/2024 s. 27(b).

(d) if the Minister is satisfied that there is a significant risk that any of the operations that could be carried on under the greenhouse gas injection licence will have a significant adverse impact on petroleum exploration operations, petroleum recovery operations or underground petroleum storage operations that are being, or could be, carried on under—

(ii) an existing post‑commencement petroleum retention lease (other than a petroleum retention lease granted under section 139); or

(iii) a future post‑commencement petroleum production licence over the block or any of the blocks to which an existing post‑commencement petroleum exploration permit, or an existing post‑commencement petroleum retention lease (other than a petroleum retention lease granted under section 139), relates—

(iv) the grant of the greenhouse gas injection licence is in the public interest; or

(v) the registered holder of the petroleum exploration permit or petroleum retention lease, as the case may be, has agreed, in writing, to the grant of the greenhouse gas injection licence to the applicant; and

S. 395(e) amended by No. 42/2024 s. 27(b).