PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 61

PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 61

61 .         Licence for 2 or more blocks may be divided into 2 or more licences

        (1)         Where a licence (in this section called the original licence ) is in force in respect of 2 or more blocks (not being blocks that form or form part of a location), the licensee may make an application to the Minister for the grant to him of —

            (a)         if the original licence is a petroleum production licence — 2 or more petroleum production licences; or

            (b)         if the original licence is a geothermal production licence — 2 or more geothermal production licences,

                in respect of the blocks the subject of the original licence in exchange for the original licence.

        (2)         An application under subsection (1) —

        [(a)         deleted]

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

            (c)         shall specify the number of licences required; and

            (d)         shall specify the block or blocks the subject of the original licence in respect of which each licence is sought; and

            (e)         shall be accompanied by the prescribed fee.

        [(3)         deleted]

        (4)         Where a licensee has made an application under this section the Minister shall grant to the licensee petroleum production licences or geothermal production licences, as the case requires, in accordance with the application.

        (5)         A licence granted on an application under this section —

            (a)         remains in force, subject to this Part, but notwithstanding section 63, for the remainder of the term of the original licence; and

            (b)         shall be granted subject to conditions corresponding as nearly as may be to the conditions to which the original licence was subject; and

            (c)         shall be granted subject to any directions under this Act previously given to the holder of the original licence in respect of the licence area of the original licence; and

            (d)         shall be granted subject to any instruments and agreements in respect of the original licence a memorial of which is entered in the Register under section 70, insofar as such instruments and agreements apply to the licence, (or any such instruments and agreements which are in effect at the time that an application is granted under this section but in respect of which a memorial is not yet entered under that section).

        (6)         Where licences are granted on an application under this section —

            (a)         the original licence is, by force of this subsection, determined; and

            (b)         the determination has effect on and from the day on which those licences come into force.

        [Section 61 amended: No. 69 of 1981 s. 34; No. 12 of 1990 s. 46; No. 28 of 1994 s. 32; No. 35 of 2007 s. 53; No. 42 of 2010 s. 40.]