Victorian Current Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 315

    (1)     This section applies if—

        (a)     a greenhouse gas assessment permit, greenhouse gas holding lease, greenhouse gas injection licence, petroleum retention lease or petroleum production licence is in force; and

        (b)     the permittee, lessee or licensee has reasonable grounds to believe that—

              (i)     a part of a geological formation is an eligible greenhouse gas storage formation; and

              (ii)     that part is wholly situated in the permit area, lease area or licence area.

    (2)     The permittee, lessee or licensee may apply to the Minister for the declaration of the part referred to in subsection (1)(b) as an identified greenhouse gas storage formation.

    (3)     An application under this section must set out—

        (a)     the applicant's reasons for believing that the part referred to in subsection (1)(b) is an eligible greenhouse gas storage formation; and

        (b)     assuming that the part referred to in subsection (1)(b) is an eligible greenhouse gas storage formation—

              (i)     the fundamental suitability determinants of the eligible greenhouse gas storage formation; and

              (ii)     an estimate of the spatial extent of the eligible greenhouse gas storage formation; and

        (c)     such other information (if any) as is specified in the regulations.

    (4)     An estimate of spatial extent must comply with such requirements as are specified in the regulations.