40Report by holder of production licence

40 Report by holder of production licence

(1) For the purposes of section 179(c) of the Act, the holder of a production licence must, every 6 months, give to the Minister within 30 days of the end of that period a report of any petroleum production carried out under the licence.

Note

Under section 179 of the Act, a person who contravenes this subregulation is liable to a penalty not exceeding 60 penalty units.

(2) The report must include—

(a) details of the amount of hydrocarbons, water and other substances produced from, or injected into, each well in the licence area during the 6 month period to which the report relates; and

(b) details of petroleum reserves in the licence area, expressed in billion cubic feet, as assessed at the end of that 6 month period.