Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 178

Invitation to apply for a cash - bid petroleum production licence

  (1)   If:

  (a)   a petroleum production licence is surrendered or cancelled to the extent to which it relates to a block; or

  (b)   a petroleum production licence is terminated to the extent to which it relates to a block; or

  (c)   a petroleum exploration permit or petroleum retention lease is surrendered, cancelled or revoked to the extent to which it relates to a block:

  (i)   that, at the time of the surrender, cancellation or revocation, was, or was included in, a location; and

  (ii)   in which, in the opinion of the Joint Authority, there is petroleum;

the Joint Authority may, at any later time, by notice published in the Gazette :

  (d)   invite applications for the grant by the Joint Authority of a petroleum production licence over that block; and

  (e)   specify a period within which applications may be made.

  (2)   A notice under subsection   (1) must state that an applicant is required to specify an amount that the applicant would be prepared to pay for the grant of the licence.

Application for cash - bid petroleum production licence

  (3)   An application under this section must:

  (a)   be in the approved form; and

  (b)   specify the amount that the applicant would be prepared to pay for the grant of the licence; and

  (c)   be accompanied by any information or documents required by the form.

  (3A)   If the approved form requires the application to be accompanied by information or documents, an application under this section   is taken to be accompanied by the information or documents if the information or documents are given to the Joint Authority before the end of the period specified in the notice published under subsection   (1).

Note 1:   Part   2.10 contains additional provisions about application procedures.

Note 2:   Section   256 requires the application to be accompanied by an application fee.

Note 3:   Section   258 enables the Titles Administrator to require the applicant to give further information.

Deposit

  (4)   An application under this section must be accompanied by a deposit of 10% of the amount that the applicant has specified under paragraph   (3)(b).

  (4A)   An application under this section is taken to be accompanied by a deposit of 10% of the amount that the applicant has specified under paragraph   (3)(b) if the deposit is received by the Titles Administrator, on behalf of the Commonwealth, before the end of the period specified in the notice published under subsection   (1).

Refund of deposit

  (5)   If the petroleum production licence is not granted, the deposit must be refunded to the applicant.

  (6)   Subsection   (5) does not apply if:

  (a)   the applicant has been given an offer document under subsection   179(2) or 180(3) in relation to the application; and

  (b)   the applicant does not, under section   260, request the grant of the petroleum production licence.