OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE (RESOURCE MANAGEMENT AND ADMINISTRATION) REGULATIONS 2011 - REG 4.18 Application for approval of rate of recovery from pool in licence area

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE (RESOURCE MANAGEMENT AND ADMINISTRATION) REGULATIONS 2011 - REG 4.18

  (1)   This regulation applies if a petroleum production licensee applies to the Joint Authority for written approval of the rate of recovery of petroleum from a petroleum pool in a licence area.

  (2)   The Joint Authority must not approve the application unless the application includes the following information:

  (a)   the proposed rate of recovery of petroleum from the pool;

  (b)   the past performance (if any) and a prediction of future performance of production wells in the licence area;

  (c)   an estimate of the ultimate recovery from the pool;

  (d)   evidence that the equipment and procedures used to determine the quantity and composition of petroleum and water have been approved:

  (i)   if the Royalty Act applies--under section   13 of that Act; or

  (ii)   if that Act does not apply--by the Joint Authority.

  (3)   In making a decision about the rate of recovery of petroleum from the pool, the Joint Authority must ensure that the rate is consistent with the accepted field development plan for the field that includes the pool.