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Petroleum Act 1984
61AApproval
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61A Approval
(1) The Minister must not approve a plan under this Subdivision unless
satisfied:
(a) that the plan has been prepared in accordance with the
requirements of this Act, including any relevant approved code
of practice; and
(b) that the plan demonstrates that the permittee or licensee has
adequately considered and addressed all the factors and risks
relevant to ensuring that the plan meets its objectives under
Petroleum Act 1984 64
(2) The Minister may on the receipt of a plan and any additional
information provided by a permittee or licensee under this
Subdivision:
(a) approve the plan; or
(b) not approve the plan on the basis that the Minister cannot
approve the plan under subsection (1).
(3) The Minister must make a decision under subsection (2) within the
designated period together with any period that the permittee or
licensee takes to comply with a notice under section 61(4) if a
notice is given under that section.
(4) A plan approved by the Minister under this section is subject to any
conditions specified by the Minister on the approval of the plan.
(5) The rate of recovery may be approved by the Minister if the Minister
is satisfied that the rate at which petroleum will be extracted under
the field management plan is consistent with good oil field practice
and seeks to maximise the economic development potential of the
field and the return of the optimal value of the resource.
(6) In this section:
designated period means:
(a) in the case of a well operations management plan – 45 days
from when the plan is submitted for approval; and
(b) in the case of a field management plan – 120 days from when
the plan is submitted for approval; and
(c) in the case of a petroleum surface infrastructure plan –
90 days from when the plan is submitted for approval.