Unit Development

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In this section, the expression unit development:

applies in relation to a petroleum pool (other than either of the Greater Sunrise unit reservoirs) that is partly in a particular licence area of a licensee of a petroleum production licence and partly in:
1. the licence area of another licensee of a petroleum production licence; or
2. an area that is not within an offshore area but in which a person other than the first mentioned licensee is lawfully entitled to carry on petroleum recovery operations from the pool; and
means the carrying on of petroleum recovery operations from that pool under cooperative arrangements between the persons entitled to carry on such operations in each of those areas.

Source: Offshore Petroleum and Greenhouse Gas Storage Act 2006, Australia, amended 2012. Legislation

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