(1) The registered holder of a declared petroleum retention lease may apply to the Minister for approval to carry on one or more key petroleum operations under the lease.
(2) If an application for approval is made under subsection (1), the Minister may—
(a) give the approval; or
(b) by written notice given to the applicant, refuse to give the approval.
(3) In deciding whether to give the approval, the Minister must comply with sections 123 and 124.