Petroleum Act 1923

The proposed plan must provide for each of the following—

an overview of the activities proposed to be carried out under the lease or proposed lease during all of its term;

for each year of the plan period—

the nature and extent of activities proposed to be carried out under the lease or proposed lease during the year; and

where the activities are proposed to be carried out; and

the estimated cost of the activities;

for each natural underground reservoir in the area of the lease of which the applicant is aware, each of the following—

the location and a verifiable estimate of the amount of petroleum in the reservoir;

the standards and procedures used to make the estimate;

the rate and amount of production proposed from the reservoir;

approximately when the proposed production is to start;

a schedule for the proposed production during the plan period;

maps that show the matters mentioned in paragraph (b)(i) and (ii) and (c)(i);

any other information relevant to the development plan criteria;

reasons that the plan is considered appropriate;

another matter prescribed under a regulation.

Also, the proposed plan must—

highlight any significant changes from the current development plan for the lease; and

if the current development plan for the lease has not been complied with—state the details of, and the reasons for, each noncompliance.

If the effect of the proposed plan is to significantly change an activity provided for under the current development plan, the proposed plan must also state reasons for the change.

Also, for a significant change that is a cessation or reduction of petroleum production, the proposed plan must include an evaluation of—

petroleum production potential in the area of the lease; and

market opportunities for petroleum production in the area of the lease.

A regulation may impose requirements about the form of the proposed plan.

In this section—year, of the plan period, means—

the period starting on the day the plan period starts and ending on the first anniversary of that day; and

each subsequent period of 12 months or less during the plan period, starting on each anniversary of that day and ending on—

the next anniversary of that day; or

if the plan period ends before the next anniversary—the day the plan period ends.