sec.154Obligation to commence production

### sec.154 Obligation to commence production A petroleum lease holder must start petroleum production under the lease on or before the later of the following— the end of 2 years after the lease takes effect; any production commencement day for the lease. However, subsection (1) does not apply if the development plan for the lease only provides for natural underground reservoir storage. (sec.154-ssec.1) A petroleum lease holder must start petroleum production under the lease on or before the later of the following— the end of 2 years after the lease takes effect; any production commencement day for the lease. (sec.154-ssec.2) However, subsection (1) does not apply if the development plan for the lease only provides for natural underground reservoir storage. - (a) the end of 2 years after the lease takes effect; - (b) any production commencement day for the lease.