To encourage and regulate the exploration for and development of petroleum including coal seam gas, in Queensland.
The Act provides for:
- applying for and granting of petroleum authorities, including authorities to prospect (exploration permits), petroleum leases (Production permits) pipeline licences (to construct and operate pipelines to transport petroleum and petroleum facility licences (to construct and operate petroleum facilities)
- safety on all operating plant within petroleum authorities
- conditions of operation on petroleum authorities
- royalty payments, rent, security
- landholder compensation
- penalties for offences against the Act.
The Regulation provides additional conditions relating to:
- petroleum tenure administration including reporting requirements
- use of standard rules, codes and specifications.