VICIn ForceAct
Offshore Petroleum and Greenhouse Gas Storage Act 2010
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Offshore Petroleum and Greenhouse Gas Storage Act 2010
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Turn the raw legal text into a practical explanation grounded in Offshore Petroleum and Greenhouse Gas Storage Act 2010.
67A Ownership of petroleum injected and stored in the seabed or subsoil
(1) Subject to subsection (2), the ownership of petroleum that is injected into a natural reservoir under a petroleum production licence remains with the licensee or other person who owned the petroleum immediately before its injection (owner) and is not subject to any rights of other persons (other than a person to whom the owner transfers, assigns or otherwise disposes of the petroleum or an interest in the petroleum).
(2) If a petroleum production licence is cancelled or surrendered, the Crown becomes the owner of any petroleum that has been injected into and is stored in a natural reservoir under the licence.