Document ID: chunk:federal_register_of_legislation:C2024C00828:section:54:p1
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 54 (pt 1/3)
Character Range: 187948–190540

54  Petroleum pool straddling Commonwealth title area and State title area etc.
 (1) For the purposes of this Act, if:
 (a) a petroleum pool is partly in the title area of a title and partly in an area (the State title area) in which the titleholder has authority under the law of a State to explore for, or recover, petroleum; and
 (b) petroleum is recovered from that pool through a well or wells in the title area of the title, the State title area, or both;
then:
 (c) there is taken to have been recovered in the title area of the title such proportion of all petroleum so recovered as may reasonably be treated as being derived from that area, having regard to the nature and probable extent of the pool; and
 (d) that proportion is to be determined by agreement between:
 (i) the titleholder of the title; and
 (ii) the Joint Authority; and
 (iii) the responsible State Minister;
  or, in the absence of agreement, by the Federal Court or a relevant Supreme Court on the application of:
 (iv) the titleholder of the title; or
 (v) the Joint Authority; or
 (vi) the responsible State Minister.

Multiple petroleum pools
 (1A) If:
 (a) an agreement is in force between:
 (i) the titleholder of a title; and
 (ii) the Joint Authority for an offshore area of a State; and
 (iii) the responsible State Minister for the State;
  in relation to a petroleum pool that is partly in the title area of a title and partly in an area (the State title area) in which the titleholder has authority under the law of the State to explore for, or recover, petroleum; and
 (b) the agreement contains a provision (the apportionment provision) that provides that, for the purposes of this section, there will be taken to be recovered in the title area of the title a specified proportion of all of the petroleum recovered from the petroleum pool; and
 (c) assuming that petroleum were recovered from the part of the seabed that is within the areal and vertical extents specified in the agreement, the specified proportion would be consistent with such proportion of all petroleum so recovered as may reasonably be treated as being derived from the title area of the title, having regard to the nature and probable extent of the petroleum in that part of the seabed; and
 (d) the agreement contains a provision to the effect that if it becomes apparent that the areal and vertical extents of the petroleum pool, as specified in the agreement:
 (i) comprise; or
 (ii) are likely to comprise;
  more than one petroleum pool, the apportionment set out in the apportionment provision will apply to the petroleum