Document ID: chunk:federal_register_of_legislation:C2024C00828:section:54:p2
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 54 (pt 2/3)
Character Range: 190291–192885

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 recovered from any or all of those petroleum pools (regardless of their location but within those vertical and areal extents); and
 (e) after the time of the making of the agreement, it becomes apparent that the areal and vertical extents of the petroleum pool, as specified in the agreement, comprise, or are likely to comprise, 2 or more petroleum pools; and
 (f) petroleum is recovered from any of those pools through a well or wells in the title area of the title, the State title area, or both;
then:
 (g) for the purposes of this Act, there is taken to have been recovered in the title area of the title such proportion of all petroleum so recovered as is specified in the apportionment provision; and
 (h) subsection (1) does not apply to any of those pools.
 (1B) The question of whether there is or was a petroleum pool covered by paragraph (1A)(a) is to be determined on the basis of information known at the time of the making of the agreement.
 (1C) The question of whether paragraph (1A)(c) applies is to be determined on the basis of information known at the time of the commencement of the apportionment provision.
 (1D) The location of any of the 2 or more petroleum pools mentioned in paragraph (1A)(e) is immaterial.

Specified part of the seabed—apportionment agreement
 (1E) If:
 (a) at a particular time after the commencement of this subsection, 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) at that time, an agreement is made between the following parties:
 (i) the titleholder of the title;
 (ii) the Joint Authority;
 (iii) the responsible State Minister; and
 (c) the agreement specifies a part of the seabed by reference to its areal and vertical extents; and
 (d) the areal and vertical extents of the specified part consist of:
 (i) the whole or a part of the title area of the title; and
 (ii) the whole or part of the State title area; and
 (e) the areal and vertical extents of the specified part include the petroleum pool; and
 (f) 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