business.gov.au

Offshore Petroleum Retention Lease - Victoria

Description

You will require a retention lease if you intend to reserve an area for commercial petroleum mining where the mining activity is not currently viable. This lease is granted if the area will become commercially viable in the next fifteen years. This lease allows the holder to explore and recover petroleum. It also allows them to carry out operations and works within the leased area.

Offshore petroleum mining governed by the Victorian State must be within three nautical miles of the coast. Further than this is in Commonwealth waters and all licences are granted by the Commonwealth.

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 either an offshore petroleum exploration permit or offshore petroleum production permit
  • show, with adequate support, that the site is likely to be commercial in fifteen years
  • provide evidence of the applicant's technical and financial capacity to construct and operate the proposed facilities
  • provide all required information and documentation to the relevant authority
  • pay the prescribed fees.

Ongoing eligibility requirements

You must submit a work program in relation to your permit.

Duration

Initial term for five years with renewals for a further five years.

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Please consult the responsible agency for information on fees to be submitted with your application.

Forms

Act(s) name

Offshore Petroleum and Greenhouse Gas Storage Act 2010 Victoria

Regulation(s) name

Offshore Petroleum and Greenhouse Gas Storage Regulations 2011 Victoria

Administering agency

Department of Jobs, Skills, Industry and Regions

Earth Resources

Contact details

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