Petroleum lease (PL)

A PL gives its holder the right to explore for, test for production, and produce petroleum within the area of the PL.

The maximum area that may be granted for a PL is 75 sub-blocks. The maximum term that a PL may be granted is 30 years.

An application for the Minister to grant a PL must be accompanied by a proposed initial development plan.

A proposed initial development plan gives detailed information about the nature and extent of activities proposed to be carried out under the PL. Generally, a proposed initial development plan will cover a five year period of activities proposed for the PL.

At the end of the five year period of the initial development plan, or if there is a significant change to an activity provided for under the current development plan, the holder of the PL must lodge a proposed later development plan.

The proposed later development plan gives detailed information about the nature and extent of activities proposed to be carried out under the PL, and highlights any significant change (and reasons for the change) from activities provided for under the previously approved development plan. Generally a proposed later development plan will cover a five year period.

Guidelines for initial and later development plans.