Victorian Current Acts

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OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 487

Notification of discovery of petroleum in greenhouse gas assessment permit area etc.

    (1)     This section applies if petroleum is discovered in—

        (a)     a greenhouse gas assessment permit area; or

        (b)     a greenhouse gas holding lease area; or

        (c)     a greenhouse gas injection licence area.

    (2)     The permittee, lessee or licensee must immediately inform the Minister of the discovery.

Penalty:     20 penalty units.

    (3)     The permittee, lessee or licensee must, within 3 days after the date of the discovery, give the Minister a written notice setting out—

        (a)     details of the discovery; and

        (b)     such other information (if any) about the discovery as is specified in the regulations.

Penalty:     20 penalty units.

    (4)     Subsections (2) and (3) do not apply if the petroleum is discovered by a petroleum exploration permittee, petroleum retention lessee or petroleum production licensee.



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