You will be required to apply for a retention 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 10 to 15 years. This licence applies to both onshore and coastal discoveries. If you hold a retention licence / lease, you are expected to actively work towards making the discovered resource commercially viable. Special conditions to ensure this happens may be attached to the licence / lease.
If you require any further information, please contact the Department.