Offshore Petroleum and Greenhouse Gas Storage (Resource Management and Administration) Regulations 2025
67Meaning of significant event
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67 Meaning of significant event
A significant event in, or in relation to, a licence area means any of the following:
(a) a change in the understanding of the characteristics of the geology or reservoir that may have a significant impact on the optimum recovery of petroleum from the licence area;
(b) a new or increased risk to the recovery of petroleum within the licence area;
(c) a new or increased risk to the recovery of petroleum outside the licence area caused by the development of pools in the licence area;
(d) a new or increased risk of activities in the licence area causing effects outside the licence area (for example aquifer depletion caused by hydrocarbon extraction);
(e) a change to the proposed option for development of pools in the licence area, including any tie‑in opportunity with nearby licence areas.