Document ID: chunk:federal_register_of_legislation:C2024C00828:section:288
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 288
Character Range: 718820–720528

288  Simplified outline
  The following is a simplified outline of this Part:

         • It is an offence to explore in an offshore area for a potential greenhouse gas storage formation, or a potential greenhouse gas injection site, except:
             (a) under a greenhouse gas assessment permit; or
             (b) as otherwise authorised or required by or under this Act.
         • This Part provides for:
             (a) the grant of greenhouse gas assessment permits over blocks in an offshore area; and
             (b) the grant of greenhouse gas assessment permits over blocks in an offshore area and State/Territory blocks in the coastal waters of a State or the Northern Territory.
         • A greenhouse gas assessment permit authorises the permittee to explore in the permit area for potential greenhouse gas storage formations and potential greenhouse gas injection sites.
         • There are 3 types of greenhouse gas assessment permits:
             (a) a greenhouse gas assessment permit granted on the basis of work program bidding (a work‑bid greenhouse gas assessment permit); and
             (b) a greenhouse gas assessment permit granted on the basis of cash bidding (a cash‑bid greenhouse gas assessment permit); and
             (c) a greenhouse gas assessment permit granted over blocks in the offshore area and State/Territory blocks in the coastal waters of a State or the Northern Territory (a cross‑boundary greenhouse gas assessment permit).
         • If an eligible greenhouse gas storage formation is identified in a greenhouse gas permit area, the responsible Commonwealth Minister may declare that the formation is an identified greenhouse gas storage formation.