Document ID: chunk:federal_register_of_legislation:C2024C00828:section:368b:p9
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 368B (pt 9/10)
Character Range: 1056482–1059432

petroleum production title; and
 (iii) the recovery of the petroleum passes the commercial viability test set out in subsection (5);
  the responsible Commonwealth Minister is satisfied that there is no significant risk that any of the operations that could be carried on under the greenhouse gas injection licence will have a significant adverse impact on operations to recover the petroleum; and
 (i) the responsible Commonwealth Minister is satisfied that the technical advice and financial resources available to the applicant are sufficient to:
 (i) carry out the operations and works that will be authorised by the licence; and
 (ii) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the licence; and
 (j) the responsible Commonwealth Minister is satisfied that the draft site plan that accompanied the application satisfies the criteria specified in the regulations; and
 (ja) the responsible Commonwealth Minister is satisfied of the matters (if any) prescribed by the regulations;
the Cross‑boundary Authority must give the applicant a written notice (called an offer document) telling the applicant that the Cross‑boundary Authority is prepared to grant the applicant a greenhouse gas injection licence over the block or blocks specified in the application, on the basis that the matters to be specified in the greenhouse gas injection licence as mentioned in paragraphs 358A(3)(d) to (k) will be in accordance with the application, so long as:
 (k) in a case where part of the licence area would be in the coastal waters of a State—the State has consented to the giving of the offer document; or
 (l) in a case where part of the licence area would be in the coastal waters of the Northern Territory—the Northern Territory has consented to the giving of the offer document.

Public interest
 (3) For the purposes of paragraphs (1)(c) and (2)(c), in considering whether the grant of the greenhouse gas injection licence is in the public interest, the responsible Commonwealth Minister must have regard to:
 (a) whether:
 (i) the registered holder of the existing post‑commencement petroleum exploration permit or existing post‑commencement petroleum retention lease; or
 (ii) the holder of the existing post‑commencement State/Territory petroleum exploration title or existing post‑commencement State/Territory petroleum retention title;
  as the case may be, has agreed, in writing, to the grant of the greenhouse gas injection licence; and
 (b) if so—the terms of that agreement.
 (4) Subsection (3) does not limit the matters to which the responsible Commonwealth Minister may have regard.

Commercial viability test
 (5) For the purposes of subparagraphs (1)(h)(iii) and (2)(h)(iii), the recovery of petroleum passes the commercial viability test if, and only if, the responsible Commonwealth Minister is satisfied that:
 (a) the recovery is commercially viable; or