52Petroleum pool straddling 2 title areas etc.

52 Petroleum pool straddling 2 title areas etc.

(a) a petroleum pool is partly in the title area of a title and partly in an adjoining title area of a title of the same titleholder (whether in the offshore area or not); and

(b) petroleum is recovered from that pool through a well or wells in one or both of the title areas—

(c) there is taken to have been recovered in each of the title areas, under the title in relation to the title area, such proportion of all petroleum so recovered as may reasonably be treated as being derived from that area, having regard to the nature and probable extent of the pool; and

(d) the respective proportions are to be determined by agreement between—

(i) the titleholder; and

(ii) the Minister—

or, in the absence of agreement, by the Supreme Court on the application of the titleholder or the Minister.