6Compensation to owners

6 Compensation to owners (1) For section 81(1)(c) of the Act, the following circumstances are prescribed: (a) the drilling of a well on the land by the interest holder; (b) to the extent of an owner's or occupier's respective interests in the land – any decrease in the market value of the land caused by regulated operations carried out on the land by the interest holder. (2) For section 81(7A) of the Act: (a) the compensation payable under subregulation (1)(a) may be: (i) an amount for each well; or (ii) an amount represented by improvements or work on the land provided or carried out by the interest holder; and

Petroleum Regulations 2020 9 (b) the compensation payable under subregulation (1)(b) may be: (i) an amount equal to the decrease in market value of the owner's or occupier's interest in the land (as the case may be); or (ii) an amount represented by improvements or work on the land provided or carried out by the interest holder. (3) The method of compensation under subregulation (2)(a) or (b) will be determined by agreement between the parties or, if they are unable to agree, by the Tribunal.