60Recovery rate approval

60  Recovery rate approval

Recovery rate approval application

 (1) A petroleum production licensee may apply to the Titles Administrator for approval (a recovery rate approval) by the Joint Authority of the rate, or range of rates, of recovery of petroleum from one or more petroleum pools in the licence area.

 (c) include the information specified in subsection (3).

 (3) For the purposes of paragraph (2)(c), the application must include the following information:

 (a) the proposed rate, or range of rates, of recovery of petroleum from:

 (i) the petroleum pool; and

 (ii) each well through which petroleum will be recovered from the petroleum pool; and

 (iii) the field that includes the petroleum pool;

 (b) how each of those rates, or range of rates, of recovery are consistent with the accepted field development plan for the field that includes the petroleum pool;

 (c) the past performance (if any), and a prediction of the future performance, of each production well in the licence area;

 (d) an estimate of the volume of petroleum in place and recoverable petroleum, including data supporting the estimates, for each of the following:

 (i) the petroleum pool;

 (ii) each well through which petroleum will be recovered from the petroleum pool;

 (iii) the field that includes the petroleum pool;

 (e) either:

 (i) evidence that the equipment and procedures that will be used to determine the quantity and composition of petroleum and water recovered from the pool have been approved under section 66; or

 (ii) evidence that the equipment that will be used to determine the quantity of petroleum recovered from the pool has been approved under section 13 of the Royalty Act.

Note: Under section 13 of the Royalty Act, a State Minister can approve a measuring device for the purposes of measuring quantities of petroleum recovered from a well.

 (4) The Titles Administrator must publish on the Titles Administrator’s website any form approved for the purposes of paragraph (2)(b).

 (5) In relation to each petroleum pool covered by the application, the Joint Authority must:

 (a) approve the proposed rate, or range of rates, of recovery; or

 (b) approve the proposed rate, or range of rates, of recovery subject to such conditions as the Joint Authority considers appropriate; or

 (c) refuse to approve the proposed rate, or range of rates, of recovery.

 (6) The Joint Authority must not approve a rate, or range of rates, of recovery of petroleum from a petroleum pool covered by the application if the application does not include all of the information specified in subsection (3).