Petroleum (Submerged Lands) Act Petroleum Act Geothermal Energy Act Coastal Waters - 3NM PRODUCTION LICENCE PRODUCTION LICENCE PRODUCTION LEASE L NTC/L GL Exclusive right to conduct activities in lease area related to the Purpose To explore, test for and produce hydrocarbons. production of geothermal energy and the generation of power Term 21 or 25 21 years Life of Resource Renewal Not exceeding 25 years 21 years n.a. Term Maximum A proposed licence area may comprise all or part of the permit 12 Extent of petroleum pool/location Blocks area. Security Determined by Minister Determined by Minister Determined by Minister Petroleum (Prospecting & Mining) Act [Repealed] PRODUCTION LEASE OL Petroleum (Prospecting & Mining) Act Production Leases OL3, OL4 and OL5 are administered the Renewal Purpose To explore, test for and produce hydrocarbons 21 Years Term
Petroleum Act Petroleum (Submerged Lands) Act Coastal Waters - 3NM Geothermal Energy Act PRODUCTION LICENCE PRODUCTION LICENCE PRODUCTION LEASE L NTC/L GL Purpose To explore, test for and produce hydrocarbons. Exclusive right to conduct activities in lease area related to the production of geothermal energy and the generation of power Term 21 or 25 21 years Life of Resource Renewal Term Not exceeding 25 years 21 years n.a. Maximum Blocks 12 Extent of petroleum pool/location A proposed licence area may comprise all or part of the permit area. Security Determined by Minister Determined by Minister Determined by Minister Petroleum (Prospecting & Mining) Act [Repealed] PRODUCTION LEASE OL Production Leases OL3, OL4 and OL5 are administered the Petroleum (Prospecting & Mining) Act Purpose To explore, test for and produce hydrocarbons Renewal Term 21 Years
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