Victorian Current Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 54

    For the purposes of this Act, if—

        (a)     a petroleum pool is partly in the title area of a title and partly in an area (the other State title area ) in which the titleholder has authority under a corresponding State law to explore for, or recover, petroleum; and

        (b)     petroleum is recovered from that pool through a well or wells in the title area of the title, the other State title area, or both—

then—

        (c)     there is taken to have been recovered in the title area of the title such proportion of all petroleum so recovered as may reasonably be treated as being derived from that area, having regard to the nature and probable extent of the pool; and

        (d)     that proportion is to be determined by agreement between—

              (i)     the titleholder of the title; and

              (ii)     the Minister; and

              (iii)     the Minister of the Crown in right of the other State who is administering the corresponding State law—

or, in the absence of agreement, by the Supreme Court on the application of—

              (iv)     the titleholder of the title; or

              (v)     either of those Ministers.