PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 230 Minister’s power to require commercial viability report

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 230

230 Minister’s power to require commercial viability report

(1) The Minister may, by notice (a
"report requirement" ), require a petroleum tenure holder to lodge a written report (a
"commercial viability report" ) about all or a stated part of its area if—

(a) the holder is not producing petroleum in the area or stated part; and

(b) the Minister is of the opinion that—

(i) it may be commercially viable to produce or store petroleum in the area or stated part; or

(ii) it may, within the next 15 years, be commercially viable to produce or store petroleum in the area or stated part.

Note—

For the relevance of this period, see part 1 , division 6 .

(2) The notice must state each of the following—

(a) the Minister’s opinion under subsection (1) (b) (i) or (ii) ;

(b) the facts and circumstances forming the basis for the opinion;

(c) that the Minister requires the holder to give the Minister a commercial viability report about the area;

(d) a reasonable period for giving the report.

Note—

For other relevant provisions about giving a document to the Minister, see section 851AA .