Petroleum Retention Licence / Lease - Northern Territory

Description

You will need a licence or lease if you discover petroleum resources that have development potential, and are not currently commercially viable, but are likely to be viable within 15 years. Petroleum means any naturally occurring oil or gas. To be commercially viable, petroleum must be of a commercial quality and quantity.

If you hold a retention licence or lease, you will need to actively work towards making the discovered resource commercially viable. Special conditions to ensure this happens may be attached to the licence or lease.

When the resource is considered to be commercially viable, you must convert the retention licence or lease to a production licence.

This licence or lease applies to both onshore and coastal petroleum discoveries.

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 to apply for a retention licence or lease you must have discovered petroleum resources that are not currently commercially viable but likely to be within 15 years.

Duration

A license or lease has an initial term of 5 years. The licence or lease may be renewed of the resource is still not commercially viable.

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Fees for 2024-25 can be found here.

Other resources

Act(s) name

Petroleum (Submerged Lands) Act 1981 Northern Territory

Petroleum Act 1984 Northern Territory

Regulation(s) name

Petroleum Regulations 2020 Northern Territory

Administering agency

Department of Mining and Energy

Energy Division

Contact details

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