98Application for a special petroleum exploration permit over a surrendered block or certain other blocks

98 Application for a special petroleum exploration permit over a surrendered block or certain other blocks

(a) a petroleum retention lease is surrendered, cancelled or revoked to the extent to which it relates to a block or blocks; or

(b) a petroleum production licence is surrendered or cancelled to the extent to which it relates to a block or blocks; or

(c) a petroleum production licence that relates to a block or blocks is terminated; or

(d) both—

(i) a petroleum exploration permit is surrendered, cancelled or revoked to the extent to which it relates to a block or blocks; and

(ii) at the time of the surrender, cancellation or revocation, the block or blocks were, or were included in, a location—

the Minister may, at any later time, by notice published in the Government Gazette—

(e) invite applications for the grant by the Minister of a petroleum exploration permit over that block or such of those blocks as are specified in the notice; and

(f) specify a period within which applications may be made.

(2) A notice under subsection (1) must state that an applicant must specify an amount that the applicant would be prepared to pay for the grant of the permit.

(3) If a notice under subsection (1) specifies more than one block, an application under this section must be for a petroleum exploration permit over all of the specified blocks.

(4) An application under this section must—

(i) the applicant's proposals for work and expenditure in relation to the block or blocks specified in the application; and

(ii) the technical qualifications of the applicant and of the applicant's employees; and

(iii) the technical advice available to the applicant; and

(iv) the financial resources available to the applicant; and

(5) An application under this section must be accompanied by a deposit of 10% of the amount that the applicant has specified under subsection (4)(b).

(6) If the permit is not granted, the deposit must be refunded to the applicant.

(7) Subsection (6) does not apply if—

(a) the applicant has been given an offer document under section 99 or 100 in relation to the application; and

(b) the applicant does not, under section 256, request the grant of the permit.