The objective of this Act, consisting of 125 sections divided into seven Parts, is to provide a legal framework within which persons are encouraged to undertake effective exploration for petroleum and to develop petroleum production so that the optimum value of the resource is returned to the Territory. The legal framework provides for the granting of petroleum interests to persons for exploration, production and ancillary activities associated with exploiting petroleum, and the renewal or transfer of those interests; clear statements about the role of government following the grant of petroleum interests; for the promotion of active exploration for petroleum, and of the development of petroleum production if commercially viable, by persons granted petroleum interests; the assessment of proposed technical works programmes for the exploration, appraisal, recovery or production of petroleum and of the financial capacity of persons proposing to carry out those programmes; the reduction of risks to the health and safety of persons involved in petroleum exploration or production; the reduction of risks of harm to the environment during activities associated with exploration for or production of petroleum; the collection of information about petroleum exploration and production and the dissemination of that information.
Australie · 1984-10-15