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.
Please consult the Contact Officer for more information.
A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.
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.
Please consult the Contact Officer for more information regarding eligibility requirements.
Initial lease: 5 years. The lease can be renewed.
Fees will vary depending on your circumstances. Please consult the Contact Officer for more information.
The National Offshore Petroleum Titles Administrator
Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Australian Government)
Offshore Petroleum and Greenhouse Gas Storage (Resource Management and Administration) Regulations 2011 (Australian Government)
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