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OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 337

Grant of greenhouse gas holding lease—offer document

    (1)     If—

        (a)     an application for a greenhouse gas holding lease has been made under section 334(2); and

        (b)     the Minister is satisfied that the applicant is not, at the time of the application, in a position to—

              (i)     inject a greenhouse gas substance into the identified greenhouse gas storage formation concerned; and

              (ii)     permanently store the greenhouse gas substance in the identified greenhouse gas storage formation concerned—

but is likely to be in such a position within 15 years—

the Minister must give the applicant a written notice (called an offer document ) telling the applicant that the Minister is prepared to grant the applicant a greenhouse gas holding lease over the block or blocks specified in the application.

Notes

1     Section 462 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).

2     If the applicant breaches a requirement under section 461 to provide further information, the Minister may refuse to give the applicant an offer document—see section 461(3).

    (2)     If—

        (a)     an application for a greenhouse gas holding lease has been made under section 334(3), (4) or (5); and

        (b)     the Minister is satisfied that the applicant is not, at the time of the application, in a position to—

              (i)     inject a greenhouse gas substance into at least one of the identified greenhouse gas storage formations concerned; and

              (ii)     permanently store the greenhouse gas substance in at least one of the identified greenhouse gas storage formations concerned—

but is likely to be in such a position within 15 years—

the Minister must give the applicant a written notice (called an offer document ) telling the applicant that the Minister is prepared to grant the applicant a greenhouse gas holding lease over the block or blocks specified in the application.

Notes

1     Section 462 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).

2     If the applicant breaches a requirement under section 461 to provide further information, the Minister may refuse to give the applicant an offer document—see section 461(3).



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