PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 67

PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 67

67 .         Storage of petroleum underground

        (1)         A person shall not inject petroleum into a natural underground reservoir —

            (a)         for the purpose of storage and subsequent recovery other than in accordance with an agreement made under this section; or

            (b)         for a purpose other than storage and subsequent recovery without the approval of the Minister.

        Penalty: a fine of $10 000.

        (2)         Where a person wishes to inject petroleum into a natural underground reservoir, the person shall apply in writing to the Minister who may reject the application or may —

            (a)         where the Minister is of the opinion the injection is for the purpose of storage and subsequent recovery, require the applicant to enter into an agreement with the Minister as to the injection, storage and subsequent recovery of that petroleum; or

            (b)         where the Minister is of the opinion the injection is for a purpose other than storage and subsequent recovery, approve the application.

        (3)         An agreement under subsection (2)(a) —

            (a)         shall specify the details of the methods to be used for the injection, storage and subsequent recovery of the petroleum; and

            (b)         may specify —

                  (i)         whether or not royalty under this Act or the Petroleum (Submerged Lands) Act 1982 in respect of that petroleum by reason of the initial recovery is to be paid; and

                  (ii)         such conditions, restrictions and other matters as the Minister thinks fit.

        [Section 67 inserted: No. 28 of 1994 s. 34; amended: No. 42 of 2010 s. 62(15).]