Victorian Consolidated Regulations

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Petroleum production development plan

r. 16

    (1)     For the purposes of section 63(2) of the Act, a petroleum production development plan must include

        (a)     a description of each stage of the petroleum operation, including equipment or facilities to be used; and

        (b)     a description of the relevant existing geological and reservoir data and interpretations of that data; and

        (c)     details of proposed further data acquisition and studies to enhance geological and reservoir understanding; and

        (d)     a reservoir management plan that

              (i)     describes how the reservoir will be produced; and

              (ii)     provides the reasons for adopting the proposed approach; and

              (iii)     estimates the future performance of the reservoir; and

              (iv)     specifies the proposed rate of recovery of petroleum.

    (2)     The holder of the authority must ensure that the petroleum development plan is reviewed within 12 months after initial petroleum production (unless the Minister agrees to a longer period of time) and then at intervals not exceeding one year.

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