410Powers of Minister to protect petroleum discovered in the title area of a pre‑commencement petroleum title

410 Powers of Minister to protect petroleum discovered in the title area of a pre‑commencement petroleum title

(a) the licence area of a greenhouse gas injection licence overlaps, in whole or in part—

(i) the permit area of a pre‑commencement petroleum exploration permit held by a person other than the registered holder of the greenhouse gas injection licence; or

(ii) the lease area of a pre‑commencement petroleum retention lease held by a person other than the registered holder of the greenhouse gas injection licence; or

(iii) the licence area of a pre‑commencement petroleum production licence held by a person other than the registered holder of the greenhouse gas injection licence; and

(b) petroleum is discovered in the area of overlap; and

(c) the Minister is satisfied that—

(i) the recovery of the petroleum is commercially viable; or

(ii) the recovery of the petroleum is not commercially viable, but is likely to become commercially viable at some time in the future; and

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

(ii) the commercial viability of the recovery of the petroleum; and

(e) the registered holder of the petroleum exploration permit, petroleum retention lease or petroleum production licence, as the case may be, has not agreed, in writing, to the registered holder of the greenhouse gas injection licence carrying on those operations; and

(f) the Minister is satisfied that it is practicable to eliminate the risk that any of the operations that are being, or could be, carried on under the greenhouse gas injection licence will have a significant adverse impact on—

(ii) the commercial viability of the recovery of the petroleum—

the Minister must, by written notice given to the registered holder of the greenhouse gas injection licence—

(g) give the registered holder of the greenhouse gas injection licence a direction for the purpose of eliminating the risk that operations that are being, or could be, carried on under the greenhouse gas injection licence could have a significant adverse impact on—

(ii) the commercial viability of the recovery of the petroleum; or

(h) suspend, either—

(i) for a specified period; or

(ii) indefinitely—

any or all of the rights conferred by the greenhouse gas injection licence; or

(i) cancel the greenhouse gas injection licence.

(2) A direction under subsection (1)(g) may require the licensee to do something—