3Objective

3 Objective (1) The objective of this Act is to provide a legal framework that: (a) encourages persons to undertake effective exploration for petroleum and to develop petroleum production so that the optimal value of the resource is returned to the Territory; and (b) provides protection to the environment of the Territory; and (c) promotes principles of ecologically sustainable development. (2) The legal framework provides for the following: (a) the granting of petroleum interests to persons for exploration, production and ancillary activities associated with exploiting petroleum, and the renewal or transfer of those interests; (b) clear statements about the role of government following the grant of petroleum interests; (c) the promotion of active exploration for petroleum, and of the development of petroleum production if commercially viable, by persons granted petroleum interests;

Petroleum Act 1984 2 (d) the assessment of proposed technical works programmes for the exploration, appraisal, recovery or production of petroleum and of the financial capacity of persons proposing to carry out those programmes; (e) resource management, activity and infrastructure plans to support and enhance well and surface infrastructure integrity and the strategic management of petroleum production consistent with achieving optimum long-term recovery of the resource; (f) the reduction of risk or potential risk of environmental harm by ensuring that activities associated with exploration for, or production of, petroleum are carried out in a manner in which the environmental impacts and risks of the activities are reduced to a level that is: (i) as low as reasonably practicable; and (ii) acceptable; (g) the collection of information about petroleum exploration and production and the dissemination of that information; (h) the efficient administration of this Act; (i) other matters in connection with exploration for and production of petroleum.