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Paragraph 4 Extension or further extension of term

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • Sch. 5 incorporated in part (with modifications) (temp.) by Petroleum Act 1998 s. 5 Sch. 1 para. 25-27

The Minister, on application being made to him in writing during the first six months of the final year of the initial term or any extension thereof specifying the reasons why an extension or further extension is required, may grant an extension or further extension of this licence. Any such extension shall only be for such period as the Minister considers necessary to enable the Licensee to complete the appraisal of any discovery of petroleum and, if appropriate, to apply for a development licence in respect of the licensed area or any part thereof.