Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The duration of a petroleum production licence is worked out using the table:
Duration of petroleum production licences | ||
Item | This kind of petroleum production licence... | remains in force... |
1 | an original petroleum production licence granted on or after 30 July 1998 (other than a licence granted under section 183A) | indefinitely. |
2 | an original petroleum production licence granted before 30 July 1998 | for the period of 21 years beginning on: (a) the day on which the licence is granted; or (b) if a later day is specified in the licence as the day on which the licence is to come into force--that later day. |
3 | a petroleum production licence granted by way of the first renewal of a petroleum production licence (other than petroleum production licence WA - 1 - L, WA - 3 - L, WA - 5 - L, WA - 6 - L, VIC/L 13, VIC/L 14, AC/L1 or AC/L2), where the original petroleum production licence was granted before 30 July 1998 | for the period of 21 years beginning on: (a) the day on which the licence is granted; or (b) if a later day is specified in the licence as the day on which the licence is to come into force--that later day. |
3A | a petroleum production licence granted by way of the first renewal of petroleum production licence WA - 1 - L, WA - 3 - L, WA - 5 - L, WA - 6 - L, VIC/L 13, VIC/L 14, AC/L1 or AC/L2 | indefinitely. |
4 | a petroleum production licence granted by way of the second renewal of a petroleum production licence, where the original petroleum production licence was granted before 30 July 1998 | indefinitely. |
5 | a petroleum production licence granted under section 183A | for the period of 21 years beginning on the day on which the licence is granted. |
(2) Subsection (1) has effect subject to this Chapter.
(3) A petroleum production licence covered by item 1, 3A or 4 of the table in subsection (1) is called a life - of - field petroleum production licence .
(4) A petroleum production licence covered by item 2, 3 or 5 of the table in subsection (1) is called a fixed - term petroleum production licence .
Note 1: For a special rule about the extension of the duration of licences pending decisions on renewal applications, see subsection 184(6).
Note 2: For special rules about the duration of licences granted over individual blocks, see subsections 183(3) and (4).
Note 3: For the revocation of an initial petroleum production licence mentioned in section 182, see subsection 183(7).
Note 4: For a special rule about when a petroleum production licence ceases to be in force following the grant of a petroleum retention lease, see section 151.
Note 5: For the surrender of a petroleum production licence, see Part 2.12.
Note 6: For the cancellation of a petroleum production licence, see Part 2.13.
Note 7: For the termination of a life - of - field petroleum production licence if there have been no recovery operations for 5 years, see section 166.
Note 8: See also section 780 (compensation for acquisition of property).