Victorian Current Acts Victorian Current Acts(1) This section sets out a simplified outline of this Part.
(2) It is an offence to recover petroleum in the offshore area except—
(a) under a petroleum production licence; or
(b) as otherwise authorised or required by or under this Act.
(3) This Part provides for the grant of petroleum production licences over blocks in the offshore area.
(4) A petroleum production licence authorises the licensee to carry out petroleum recovery operations in the licence area.
S. 148(5) amended by No. 16/2018 s. 23(a).
(5) There are 4 ways in which a petroleum production licence can be granted—
(a) grant of a petroleum production licence as a result of an application made by a petroleum exploration permittee or a petroleum retention lessee;
(b) grant of a petroleum production licence over a surrendered block or a similar block;
S. 148(5)(c) amended by No. 16/2018 s. 23(b).
(c) grant of a petroleum production licence over an individual block in exchange for another licence that was in force over the same block;
S. 148(5)(d) inserted by No. 16/2018 s. 23(c).
(d) grant of a petroleum production licence as a result of a change to the boundary of the offshore area.
(6) This section is intended only as a guide to readers as to the general scheme and effect of this Part.