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Australian Licensing

Australian Licensing. PSLA - Petroleum Submerged Lands Act (1967) (over 40 amendments) Recent Reviews 1998 - ( efficiency of Admin/exp/prod) 1997-1998 - ( transfer of powers to joint authorities) 1999 -2000 - ( national competition policy) 2001 - Plain English (including consolidation).

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Australian Licensing

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  1. Australian Licensing • PSLA - Petroleum Submerged Lands Act (1967) (over 40 amendments) • Recent Reviews • 1998 - (efficiency of Admin/exp/prod) • 1997-1998 - (transfer of powers to joint authorities) • 1999 -2000 - (national competition policy) • 2001 - Plain English (including consolidation)

  2. Exploration Permit Production Licence Retention Lease Term 6years (3 GMWP + 3 SWP) Renew @ 5yrs @ 50% Relinquishment Failure GMWP/SWP = Cancellation. In 4th year SWP > GMWP yr by yr Discovery = Notification & 2 years to get Production Licence or Retention Lease Automatic Right Term - duration of production + 5yrs Non-commercial discovery, but likely in 15 years. 5 year Terms renew @ 5 Australian Licensing

  3. Australian Licensing Work Programme Bids & Cash Bidding: • Cash Bidding for areas of high interest • WP for areas of low interest Notification of Discovery: • Forthwith (3 days to write - or 100 penalty points ?) Data Release: To Designated Authority • TITLE - Cores/cuttings 1 month, geophysical 1 year. • Speculative - 8 years (if agree release of derived 2D) To Public domain • Basic data under Exploration permit = 1 further year • Basic data under Production Licence = 1 further year • Basic data unlicensed acreage - 2 years • Interpretative - additional 5 years (provided notice is served)

  4. Australian Licensing Assignments (Transfers & Dealings): • Transfer - General consent (reserved power), but must be registered. • Dealings - Must be approved by Regulator & registered • All new title holders require financial & technical vetting Pre-Emption: • Very little information - but still allowed 1999-2000 Legislative Review: • PSLA reviewed against anti-competitive legislation • ACIL Report - 27 Recommendations

  5. Australian Licensing

  6. Australian Licensing References: ACIL Report APPEA Guidelines PSLA 1967 Acreage Release Australia 2001 Australian Petroleum News Further reading: ACE Best Practice - Maximising Australian Participation in Petroleum Exploration Web: appea.com.au isr.gov.au

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