5Objects

5  Objects

 (1) An object of Parts 2 to 4, 6 to 8 and 11 to 15 of this instrument is to ensure that operations in an offshore area are:

 (a) carried on in accordance with good oilfield practice; and

 (b) compatible with the optimum long‑term recovery of petroleum.

 (2) An object of Parts 2 to 4 and 6 to 15 of this instrument is to ensure that the administrators of the Act are informed, in a timely and consistent manner, of:

 (a) exploration for petroleum and greenhouse gas storage formations; and

 (b) the discovery of petroleum and potential storage formations; and

 (c) the appraisal of such discoveries; and

 (d) development and production operations in relation to petroleum, and injection operations in relation to greenhouse gas substances; and

 (e) the results of such operations.

 (3) The other objects of Parts 2 to 4 and 6 to 15 of this instrument are:

 (a) to provide a framework for encouraging the adequate collection, retention and timely dissemination of petroleum and greenhouse gas data; and

 (b) to ensure the adequacy of the data acquired; and

 (c) to provide for the efficient management of data confidentiality and the disclosure of data on completion of the relevant confidentiality periods.

 (4) The object of Part 5 of this instrument is to maintain the integrity of offshore petroleum and greenhouse gas wells, by ensuring that risks to well integrity are reduced to as low as reasonably practicable and an acceptable level.