Victorian Current Acts Victorian Current Acts(1) A licensee of a petroleum production licence may from time to time enter into a written agreement for, or in relation to, the unit development of a petroleum pool, but nothing in this subsection derogates from the operation of section 522.
(2) The Minister, on the Minister's own initiative or on application made to the Minister in writing by—
(a) a licensee of a petroleum production licence in whose licence area there is a part of a particular petroleum pool; or
(b) a person who is lawfully entitled to carry on petroleum recovery operations in an area outside the offshore area that includes part of a particular petroleum pool that extends into the offshore area—
may, for the purpose of securing the more effective recovery of petroleum from the petroleum pool, direct any licensee of a petroleum production licence whose licence area includes part of the petroleum pool, by written notice given to the licensee, to—
(c) enter into a written agreement, within the period specified in the notice, for, or in relation to, the unit development of the petroleum pool; and
(d) lodge an application in accordance with section 523 for approval of any dealing to which the agreement relates.
(3) If—
(a) a licensee of a petroleum production licence who is directed under subsection (2) to enter into an agreement for, or in relation to, the unit development of a petroleum pool does not enter into such an agreement within the specified period; or
(b) the licensee enters into such an agreement, but—
(i) an application for approval of a dealing to which the agreement relates is not lodged with the Minister; or
(ii) if an application is so lodged—the dealing is not approved under section 528—
the Minister may, by written notice given to the licensee, direct the licensee to submit to the Minister, within the period specified in the notice, a scheme for, or in relation to, the unit development of the petroleum pool.