business.gov.au

Offshore Petroleum Retention Lease - Australian Government

Description

You will require an offshore retention lease if you intend to become the leaseholder of an offshore area that contains petroleum not commercially viable for extraction purposes at the point of application, but will become commercially viable within 15 years of the application.

A petroleum retention lease may be obtained as a result of a change to the boundary of the coastal waters of a State or Territory.

Please note that you will be required to contact the Agency if there are any identified greenhouse gas storage formations situated in the lease area.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this lease you must hold an Offshore Exploration Permit or an Offshore Petroleum Production Licence. Licensees have 5 years from the date of cessation of production to apply for a lease.

You must provide a Title Assessment Report if you are a petroleum retention lessee.

The report must be provided within 30 days of the anniversary of the title being awarded or at any time required by the Agency.

Information required in the report varies depending on the scope of your operations.

Duration

Five years. The lease can be renewed.

Fees

Fees Details for this service in table format.

Task Type Business Structure Amount Description
Apply Application All $8250.00

Fees for 2023-24
Renew Renewal All $8250.00

Fees for 2023-24

Act(s) name

Offshore Petroleum and Greenhouse Gas Storage Act 2006 Australian Government

Regulation(s) name

Offshore Petroleum and Greenhouse Gas Storage (Resource Management and Administration) Regulations 2011 Australian Government

Administering agency

National Offshore Petroleum Titles Administrator

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.