You will need this licence if you intend to undertake exploratory operations for petroleum and other natural resources.
The licence authorises you to undertake exploratory operations of a kind specified in the licence within a designated area. The total area of the speculative survey licence cannot exceed 10,000 square kilometres and a speculative survey licence cannot authorise drilling beyond a depth of 300 meters.
Where a speculative survey licence is granted or renewed over the area of an existing licence, the applicant must:
- consult with the existing licensee and seek to reach agreement on the activities to be carried out under the speculative survey licence on the area subject to both licences
- inform the Minister of the result of the consultation.