PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 48A

PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 48A

48A .         Application by permittee or holder of drilling reservation for lease

        (1)         A permittee whose petroleum exploration permit is in force, or, the holder of a drilling reservation whose petroleum drilling reservation is in force, in respect of a block that constitutes, or the blocks that constitute, a location may, within the application period, make an application to the Minister for the grant of a petroleum retention lease in respect of that block, or in respect of one or more of those blocks, as the case may be.

        (1a)         A permittee whose geothermal exploration permit is in force, or the holder of a drilling reservation whose geothermal drilling reservation is in force, in respect of a block that constitutes, or the blocks that constitute, a location may, within the application period, make an application to the Minister for the grant of a geothermal retention lease in respect of that block, or in respect of one or more of those blocks, as the case may be.

        (2)         An application under subsection (1) or (1a) —

        [(a)         deleted]

            (b)         shall be made in an approved manner; and

            (c)         shall be accompanied by particulars of —

                  (i)         the proposals of the applicant for work and expenditure in respect of the area comprised in the blocks specified in the application; and

                  (ii)         the commercial viability of the recovery of petroleum or geothermal energy, as the case requires, from the area comprised in the blocks specified in the application at the time of the application, and particulars of the possible future commercial viability of the recovery of petroleum or geothermal energy from that area;

                and

            (d)         may set out any other matters that the applicant wishes to be considered; and

            (e)         shall be accompanied by the prescribed fee.

        (3)         The Minister may, at any time, by instrument in writing served on the applicant, require the applicant to furnish, within the time specified in the instrument, further information in writing in connection with the application.

        (4)         The application period in respect of an application under this section by a permittee or the holder of a drilling reservation is —

            (a)         the period of 2 years after the date on which the block that constitutes the location concerned was, or the blocks that constitute the location concerned were, declared to be a location; or

            (b)         such other period, not less than 2 years or more than 4 years after that date, as the Minister, on application in writing by the permittee or the holder of the drilling reservation, as the case requires, served on the Minister before the end of the first-mentioned period of 2 years, allows.

        [Section 48A inserted: No. 12 of 1990 s. 34; amended: No. 78 of 1990 s. 7; No. 35 of 2007 s. 35; No. 42 of 2010 s. 25.]