(1) On the granting of a petroleum title, each person
having any estate or interest in any land becomes entitled to compensation for
any compensable loss suffered, or likely to be suffered, by the person as a
result of the exercise of the rights conferred by the title or by an
access arrangement in respect of the title.
Note : A
"petroleum title" is an exploration licence, assessment lease, production
lease or special prospecting authority in force under this Act.
(1A) A native
title holder within the meaning of the Commonwealth Native Title Act is to be
treated as having an estate or interest in land for the purposes of subsection
(1).
(2) The holder of a petroleum title is liable to compensate any other
holder of a petroleum title whose operations under the title are detrimentally
affected, or likely to be so affected, by the grant under this Act of an
easement or right of way through, on or over the land comprised in the title
held by that other holder or by the use of any such easement or right of way.
(3) Compensation is not payable under this Act by the holder of a
petroleum title, or a person to whom an easement or right of way has been
granted under this Act, where the operations of the holder or person do not
affect, and are not likely to affect, any portion of the surface of any land.
(4) Any compensation agreed on or determined under Subdivision M or P of
Division 3 of Part 2 of the Commonwealth Native Title Act for essentially the
same act as an act in respect of which compensation is payable under this Part
must be taken into account in the assessment of compensation for the act under
this Part.
