Petroleum (Submerged Lands) Act 1982

Where—

a licence is surrendered or cancelled as to a block; or

a permit is surrendered, cancelled or determined as to a block—

that, at the time of the surrender, cancellation or determination, was, or was included in, a location; and

in which, in the opinion of the Minister, there is petroleum;

invite applications for the grant of a licence in respect of that block; and

specify a period within which applications may be made.

The Minister shall, in an instrument under subsection (1), state—

that an applicant is required to specify an amount that the applicant would be prepared to pay in respect of the grant of a licence to the applicant on the applicant’s application; or

that an applicant is required to specify a rate of royalty that the applicant would be prepared to pay, if a licence were granted to the applicant on the applicant’s application, in respect of petroleum recovered under the licence, being a rate that exceeds 10% of the value at the wellhead of that petroleum.

Where the Minister, in an instrument under subsection (1), states that an applicant is required to specify a rate of royalty as mentioned in subsection (2)(b), the Minister may, in that instrument, state that an applicant on whose application the Minister is prepared to grant a licence will also be required to pay to the Minister, in respect of the grant of the licence to the applicant, the amount specified in that behalf in that instrument.

Where an instrument is published under subsection (1) and—

no application is made within the period specified in the instrument; or

after consideration of the applications, a licence is not granted;

The Minister shall not receive an application under subsection (4) during any period during which an application may be made in pursuance of an invitation under subsection (1).

An application under this section—

shall be in accordance with an approved form; and

shall be made in an approved manner; and

shall be accompanied by the particulars referred to in section 41(1)(c); and

in the case of an application under subsection (1)—shall specify, in accordance with the requirement in the instrument by which applications were invited, the amount or the rate of royalty, that the applicant would be prepared to pay; and

in the case of an application under subsection (4), shall specify—

an amount that the applicant would be prepared to pay in respect of the grant of a licence to the applicant on the application; or

a rate of royalty that the applicant would be prepared to pay in respect of petroleum recovered under the licence, being a rate that exceeds 10% of the value at the wellhead of that petroleum; or

such an amount and such a rate; and

may set out any other matters that the applicant wishes the Minister to consider.

The Minister may, at any time, by instrument in writing served on the applicant, require the applicant to furnish, within the period specified in the instrument, further information in connection with the applicant’s application.