South Australian Numbered Acts

PETROLEUM (MISCELLANEOUS) AMENDMENT ACT 2009 (NO 35 OF 2009) - SECT 15

15—Substitution of section 21

Section 21—delete the section and substitute:

21—Exploration licences

        (1)         There will be 3 categories of exploration licence:

            (a)         a "petroleum exploration licence";

            (b)         a "geothermal exploration licence";

            (c)         a "gas storage exploration licence".

        (2)         An exploration licence authorises subject to its terms the licensee to carry out in the licence area—

            (a)         exploratory operations for regulated resources of the kind relevant to the category of licence; and

            (b)         with respect to regulated resources of the kind relevant to the category of licence—operations—

                  (i)         to establish the nature and extent of a discovery of regulated resources;

                  (ii)         to establish the feasibility of production and appropriate production techniques.

        (3)         A licensee who holds an exploration licence is entitled, subject to this Act, to the grant of a corresponding retention licence or a corresponding production licence for a regulated resource discovered in the licence area.