14Storage development plan

14 Storage development plan

(1) For the purposes of section 68(2) of the Act, a storage development plan must include

(a) a description of each stage of the petroleum operation, including equipment or facilities to be used; and

(b) a description of the reservoir using geological data and interpretations of that data; and

(c) a reservoir management plan that

(i) estimates the recoverable petroleum reserve, owned by the Crown pursuant to section 13 of the Act located in the reservoir before the commencement of underground petroleum storage activities; and

(ii) evaluates the suitability of the reservoir and seal for storage purposes; and

(iii) specifies the proposed storage operating volume; and

(iv) specifies the proposed rates of injection and recovery of petroleum; and

(v) details the methods to monitor and verify containment of injected gas and the petroleum-water contact; and

(vi) provides information about how storage operations interact with storage operations at nearby petroleum fields; and

(d) a description of the measures to be used to ensure containment of the stored petroleum.

(2) The holder of the authority must ensure that the storage development plan is reviewed within 12 months after initial petroleum production and storage operations and then at intervals not exceeding one year.