Podcast
Questions and Answers
What percentage of an Oil Prospecting License must be relinquished upon conversion to an Oil Mining Lease?
What percentage of an Oil Prospecting License must be relinquished upon conversion to an Oil Mining Lease?
- 25%
- 90%
- 75%
- 50% (correct)
What is the requirement for migration to the optional exploration period for New Petroleum Prospecting License and Petroleum Mining Leases?
What is the requirement for migration to the optional exploration period for New Petroleum Prospecting License and Petroleum Mining Leases?
- Submission of a detailed report on the prospecting area
- Conducting an environmental impact assessment
- Payment of a non-refundable fee
- Fulfilling minimum work programme of drilling on exploration well at the initial period (correct)
What happens to areas of non-interest at the grant of a Petroleum Mining Lease?
What happens to areas of non-interest at the grant of a Petroleum Mining Lease?
- They are kept by the licensee
- They are transferred to another lease
- They are put up for auction
- They are relinquished (correct)
What is the condition for relinquished areas?
What is the condition for relinquished areas?
What is required for a license or permit holder to assign or transfer their license or permit?
What is required for a license or permit holder to assign or transfer their license or permit?
What happens 10 years into the life of an Oil Mining Lease?
What happens 10 years into the life of an Oil Mining Lease?
What is the minimum percentage of the total area that a holder can select for conversion of an OPL to OML?
What is the minimum percentage of the total area that a holder can select for conversion of an OPL to OML?
What can a holder do if the selected area for conversion is less than 40% of the total area?
What can a holder do if the selected area for conversion is less than 40% of the total area?
What is the purpose of the Midstream and Downstream Gas Infrastructure Fund?
What is the purpose of the Midstream and Downstream Gas Infrastructure Fund?
What is the main objective of the Domestic Gas Delivery Obligation?
What is the main objective of the Domestic Gas Delivery Obligation?
Under what circumstances can a lessee avoid penalty for failing to meet the domestic gas delivery obligation?
Under what circumstances can a lessee avoid penalty for failing to meet the domestic gas delivery obligation?
What is required for approval of natural gas supply for export projects?
What is required for approval of natural gas supply for export projects?
What is the purpose of the Domestic Crude Supply Obligation?
What is the purpose of the Domestic Crude Supply Obligation?
What is the penalty for failing to comply with the domestic gas delivery obligation?
What is the penalty for failing to comply with the domestic gas delivery obligation?
What determines the volume of natural gas to be dedicated towards meeting the requirements of the domestic market?
What determines the volume of natural gas to be dedicated towards meeting the requirements of the domestic market?
Who determines the wholesale customer for natural gas delivery?
Who determines the wholesale customer for natural gas delivery?
What is the purpose of the Authority establishing a tariff methodology?
What is the purpose of the Authority establishing a tariff methodology?
What will the Authority require for acquiring interest in other licenses?
What will the Authority require for acquiring interest in other licenses?
What is the purpose of the Authority implementing the no transfer pricing principle?
What is the purpose of the Authority implementing the no transfer pricing principle?
What will the Authority develop for gas and petroleum liquids?
What will the Authority develop for gas and petroleum liquids?
What is the principle of pricing that is based on transparent costs?
What is the principle of pricing that is based on transparent costs?
What is the purpose of the Authority's Consumer Protection principle?
What is the purpose of the Authority's Consumer Protection principle?
What is the purpose of the Authority's Separation of Licensed Activities principle?
What is the purpose of the Authority's Separation of Licensed Activities principle?
What is the purpose of the Authority's Public Service Obligation principle?
What is the purpose of the Authority's Public Service Obligation principle?
Who will act as the supplier of last resort for six months from the effective date?
Who will act as the supplier of last resort for six months from the effective date?
What is the purpose of the Customer service codes and Service charter?
What is the purpose of the Customer service codes and Service charter?
What will be the basis of the price calculated by the domestic gas aggregator?
What will be the basis of the price calculated by the domestic gas aggregator?
Who will bear the cost of service?
Who will bear the cost of service?
What is the role of the Authority in relation to competition regulation?
What is the role of the Authority in relation to competition regulation?
What is the purpose of the transition plan developed by the Authority?
What is the purpose of the transition plan developed by the Authority?
Who will develop tariff methodology?
Who will develop tariff methodology?
What is the purpose of the Authority's social development obligations?
What is the purpose of the Authority's social development obligations?
Who is responsible for overseeing the control and direction of the decommissioning and abandonment fund?
Who is responsible for overseeing the control and direction of the decommissioning and abandonment fund?
What is the primary purpose of the decommissioning and abandonment fund?
What is the primary purpose of the decommissioning and abandonment fund?
How is the yearly amount to be contributed to the decommissioning and abandonment fund determined?
How is the yearly amount to be contributed to the decommissioning and abandonment fund determined?
What is the purpose of the reasonable cost estimate?
What is the purpose of the reasonable cost estimate?
What is required of the financial institution holding the decommissioning and abandonment fund?
What is required of the financial institution holding the decommissioning and abandonment fund?
What happens if the Commission or Authority is not satisfied with the assessment and financial contribution referred to in this section?
What happens if the Commission or Authority is not satisfied with the assessment and financial contribution referred to in this section?
What is the decommissioning and abandonment fund held in?
What is the decommissioning and abandonment fund held in?
Who is responsible for managing the decommissioning and abandonment fund?
Who is responsible for managing the decommissioning and abandonment fund?
The Midstream and Downstream Gas Infrastructure Fund receives fines related to downstream operations.
The Midstream and Downstream Gas Infrastructure Fund receives fines related to downstream operations.
The Domestic Gas Delivery Obligation aims to promote gas development for export.
The Domestic Gas Delivery Obligation aims to promote gas development for export.
A lessee who fails to comply with the domestic gas delivery obligation can be penalized.
A lessee who fails to comply with the domestic gas delivery obligation can be penalized.
A lessee can be penalized for failing to meet its gas delivery obligation if it can demonstrate force majeure.
A lessee can be penalized for failing to meet its gas delivery obligation if it can demonstrate force majeure.
Approval for the supply of natural gas for export projects is not subject to prior compliance with the domestic gas delivery obligation.
Approval for the supply of natural gas for export projects is not subject to prior compliance with the domestic gas delivery obligation.
The Domestic Crude Supply Obligation aims to guarantee feedstock supply to local refineries to support refining decline.
The Domestic Crude Supply Obligation aims to guarantee feedstock supply to local refineries to support refining decline.
The purpose of the Midstream and Downstream Gas Infrastructure Fund is to invest in downstream gas infrastructure in the host communities.
The purpose of the Midstream and Downstream Gas Infrastructure Fund is to invest in downstream gas infrastructure in the host communities.
The Commission determines the wholesale customer for natural gas delivery.
The Commission determines the wholesale customer for natural gas delivery.
A lessee can assign or transfer their license or permit without any conditions.
A lessee can assign or transfer their license or permit without any conditions.
The Domestic Gas Delivery Obligation promotes gas development for domestic utilization to fuel economic decline.
The Domestic Gas Delivery Obligation promotes gas development for domestic utilization to fuel economic decline.
Flashcards
What percentage of an Oil Prospecting License must be relinquished upon conversion to an Oil Mining Lease?
What percentage of an Oil Prospecting License must be relinquished upon conversion to an Oil Mining Lease?
50% of the area must be relinquished.
What is the requirement for migration to the optional exploration period for New Petroleum Prospecting License and Petroleum Mining Leases?
What is the requirement for migration to the optional exploration period for New Petroleum Prospecting License and Petroleum Mining Leases?
The holder must fulfill the minimum work programme by drilling an exploration well during the initial period.
What happens to areas of non-interest at the grant of a Petroleum Mining Lease?
What happens to areas of non-interest at the grant of a Petroleum Mining Lease?
Areas of non-interest are relinquished upon the grant of a Petroleum Mining Lease.
What is the condition for relinquished areas?
What is the condition for relinquished areas?
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What is required for a license or permit holder to assign or transfer their license or permit?
What is required for a license or permit holder to assign or transfer their license or permit?
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What happens 10 years into the life of an Oil Mining Lease?
What happens 10 years into the life of an Oil Mining Lease?
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What is the minimum percentage of the total area that a holder can select for conversion of an OPL to OML?
What is the minimum percentage of the total area that a holder can select for conversion of an OPL to OML?
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What can a holder do if the selected area for conversion is less than 40% of the total area?
What can a holder do if the selected area for conversion is less than 40% of the total area?
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What is the purpose of the Midstream and Downstream Gas Infrastructure Fund?
What is the purpose of the Midstream and Downstream Gas Infrastructure Fund?
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What is the main objective of the Domestic Gas Delivery Obligation?
What is the main objective of the Domestic Gas Delivery Obligation?
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Under what circumstances can a lessee avoid penalty for failing to meet the domestic gas delivery obligation?
Under what circumstances can a lessee avoid penalty for failing to meet the domestic gas delivery obligation?
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What is required for approval of natural gas supply for export projects?
What is required for approval of natural gas supply for export projects?
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What is the purpose of the Domestic Crude Supply Obligation?
What is the purpose of the Domestic Crude Supply Obligation?
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What is the penalty for failing to comply with the domestic gas delivery obligation?
What is the penalty for failing to comply with the domestic gas delivery obligation?
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What determines the volume of natural gas to be dedicated towards meeting the requirements of the domestic market?
What determines the volume of natural gas to be dedicated towards meeting the requirements of the domestic market?
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Who determines the wholesale customer for natural gas delivery?
Who determines the wholesale customer for natural gas delivery?
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What is the purpose of the Authority establishing a tariff methodology?
What is the purpose of the Authority establishing a tariff methodology?
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What will the Authority require for acquiring interest in other licenses?
What will the Authority require for acquiring interest in other licenses?
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What is the purpose of the Authority implementing the no transfer pricing principle?
What is the purpose of the Authority implementing the no transfer pricing principle?
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What will the Authority develop for gas and petroleum liquids?
What will the Authority develop for gas and petroleum liquids?
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What is the principle of pricing that is based on transparent costs?
What is the principle of pricing that is based on transparent costs?
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What is the purpose of the Authority's Consumer Protection principle?
What is the purpose of the Authority's Consumer Protection principle?
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What is the purpose of the Authority's Separation of Licensed Activities principle?
What is the purpose of the Authority's Separation of Licensed Activities principle?
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What is the purpose of the Authority's Public Service Obligation principle?
What is the purpose of the Authority's Public Service Obligation principle?
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Who will act as the supplier of last resort for six months from the effective date?
Who will act as the supplier of last resort for six months from the effective date?
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What is the purpose of the Customer service codes and Service charter?
What is the purpose of the Customer service codes and Service charter?
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What will be the basis of the price calculated by the domestic gas aggregator?
What will be the basis of the price calculated by the domestic gas aggregator?
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Who will bear the cost of service?
Who will bear the cost of service?
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What is the role of the Authority in relation to competition regulation?
What is the role of the Authority in relation to competition regulation?
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What is the purpose of the transition plan developed by the Authority?
What is the purpose of the transition plan developed by the Authority?
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Who will develop tariff methodology?
Who will develop tariff methodology?
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What is the purpose of the Authority's social development obligations?
What is the purpose of the Authority's social development obligations?
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Who is responsible for overseeing the control and direction of the decommissioning and abandonment fund?
Who is responsible for overseeing the control and direction of the decommissioning and abandonment fund?
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What is the primary purpose of the decommissioning and abandonment fund?
What is the primary purpose of the decommissioning and abandonment fund?
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How is the yearly amount to be contributed to the decommissioning and abandonment fund determined?
How is the yearly amount to be contributed to the decommissioning and abandonment fund determined?
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What is the purpose of the reasonable cost estimate?
What is the purpose of the reasonable cost estimate?
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What is required of the financial institution holding the decommissioning and abandonment fund?
What is required of the financial institution holding the decommissioning and abandonment fund?
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What happens if the Commission or Authority is not satisfied with the assessment and financial contribution referred to in this section?
What happens if the Commission or Authority is not satisfied with the assessment and financial contribution referred to in this section?
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What is the decommissioning and abandonment fund held in?
What is the decommissioning and abandonment fund held in?
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Who is responsible for managing the decommissioning and abandonment fund?
Who is responsible for managing the decommissioning and abandonment fund?
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