Commencement of Commercial Production of Petroleum

“Commencement of commercial production of petroleum” means the earlier of

  1. the date designated by the Federal Minister as the first day on which a volume of gas equal to four million cubic metres or a volume equivalent thereto of natural gas liquids or oil, as determined by the Minister of Finance in accordance with the regulations, has, during that day, flowed through the first sales meter for sale and delivery, and
  2. the date designated by the Provincial Minister; début de la production commercial d’hydrocarbures.

Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. Legislation

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