Petroleum Act 1984

The Minister will determine the appropriate security or securities when the Minister decides to approve:

An interest holder must not commence activities under an approved well operations management plan or a petroleum surface infrastructure plan, or to recover petroleum on an appraisal basis, without providing security in accordance with a determination of the Minister under subsection (1).

The Minister may allow an interest holder to provide a reduced amount of security if satisfied that the interest holder's resources or reserves are large enough that a reduction is reasonable.