Victorian Current Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 35

For the purposes of this Act, the value at the wellhead of any petroleum is—

        (a)     the amount that is agreed between a petroleum exploration permittee, petroleum retention lessee or petroleum production licensee and the Minister; or

        (b)     if there is no agreement as to the amount within the period allowed by the Minister for agreement to be reached—the amount determined by the Minister.