PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 48B
PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 48B
48B . Grant or refusal of lease in relation to application
(1) If —
(a) an
application has been made under section 48A(1); and
(b) the
applicant has furnished any further information as and when required by the
Minister under section 48A(3); and
(c) the
Minister is satisfied that —
(i)
the area comprised in the block, or any one or more of
the blocks, specified in the application contains petroleum; and
(ii)
the recovery of petroleum from that area is not, at the
time of the application, commercially viable, but is likely to become
commercially viable within the period of 15 years after that time,
the Minister shall, by
written notice served on the applicant, inform the applicant that the Minister
is prepared to grant to the applicant a petroleum retention lease in respect
of the block or blocks as to which the Minister is satisfied as mentioned in
paragraph (c).
(2A) If —
(a) an
application has been made under section 48A(1a); and
(b) the
applicant has furnished any further information as and when required by the
Minister under section 48A(3); and
(c) the
Minister is satisfied that —
(i)
the area comprised in the block, or any one or more of
the blocks, specified in the application contains geothermal energy resources;
and
(ii)
the recovery of geothermal energy from that area is not,
at the time of the application, commercially viable, but is likely to become
commercially viable within the period of 15 years after that time,
the Minister shall, by
written notice served on the applicant, inform the applicant that the Minister
is prepared to grant to the applicant a geothermal retention lease in respect
of the block or blocks as to which the Minister is satisfied as mentioned in
paragraph (c).
(2) Where an
application has been made under section 48A and —
(a) the
applicant has not furnished any further information as and when required by
the Minister under section 48A(3); or
(b) the
Minister is not satisfied as to the matters referred to in subsection (1)(c)
or (2A)(c), whichever is applicable, in relation to the block, or all the
blocks, specified in the application,
the Minister shall, by
instrument in writing served on the applicant, refuse to grant a lease to the
applicant.
(3A) If —
(a) an
application has been made under section 48A specifying 2 or more blocks; and
(b) the
Minister is not satisfied as mentioned in subsection (1)(c) or (2A)(c),
whichever is applicable, in relation to one or more, but not all, of the
blocks,
the Minister shall, by
notice in writing served on the applicant, refuse to grant a lease to the
applicant in respect of the block or blocks as to which the Minister is not
satisfied as mentioned in subsection (1)(c) or (2A)(c).
(3) An instrument
under subsection (1) or (2A) shall contain —
(a) a
summary of the conditions subject to which the lease is to be granted; and
(b) a
statement to the effect that the application will lapse if the applicant does
not make a request under subsection (4) in respect of the grant of the lease.
(4) An applicant on
whom there has been served an instrument under subsection (1) or (2A) may,
within a period of one month after the date of service of the instrument, or
within such further period, not exceeding one month, as the Minister, on
application in writing served on the Minister before the end of the
first-mentioned period of one month, allows, by instrument in writing served
on the Minister, request the Minister to grant to the applicant the lease.
(5) Where an applicant
on whom there has been served an instrument under subsection (1) or (2A) has
made a request under subsection (4) within the period applicable under
subsection (4), the Minister shall grant to the applicant a petroleum
retention lease or geothermal retention lease, as the case requires, in
respect of the block or blocks specified in the instrument.
(6) Where an applicant
on whom there has been served an instrument under subsection (1) or (2A) has
not made a request under subsection (4) within the period applicable under
subsection (4), the application lapses upon the expiration of that period.
(7) On the day on
which a lease granted under this section in respect of a block or blocks comes
into force, the permit or drilling reservation, as the case requires, in
respect of the block or blocks ceases to be in force in respect of those
blocks.
[Section 48B inserted: No. 12 of 1990 s. 34;
amended: No. 78 of 1990 s. 7; No. 28 of 1994 s. 21; No. 35 of 2007 s. 36; No.
42 of 2010 s. 26.]