Canada–Nova Scotia Offshore Petroleum Resources Accord Implementation and Offshore Renewable Energy Management Act

Marginal note:Issuance of production licence

• 84 (1) Subject to section 90, the Board, on application made in the form and manner and containing such information as may be prescribed,

  • (a) shall issue a production licence to one interest owner, in respect of any one commercial discovery area or portion thereof that is subject to an exploration licence or a significant discovery licence held by that interest owner; and

  • (b) may, subject to such terms and conditions as may be agreed on by the Board and the relevant interest owners and to sections 32 to 37, issue a production licence to

    • (i) one interest owner, in respect of two or more commercial discovery areas or portions thereof that are subject to an exploration licence or a significant discovery licence held by that interest owner, or

    • (ii) two or more interest owners, in respect of one or more commercial discovery areas or portions thereof that are subject to an exploration licence or a significant discovery licence held by any of those interest owners.

• Marginal note:Production licence in relation to Crown reserve areas

  (2) Where a declaration of commercial discovery is in force and the commercial discovery area extends to a Crown reserve area, the Board may, after making a call for bids in relation to that Crown reserve area or any portion thereof and selecting a bid submitted in response to the call in accordance with subsection 62(1), issue a production licence to the person who submitted that bid in relation to the Crown reserve area specified in the call.

• Marginal note:Fundamental decision

  (3) The making of a call for bids and the issuance of a production licence by the Board pursuant to subsection (2) is subject to sections 32 to 37.

• Marginal note:Terms and conditions of production licence

  (4) A production licence shall be in the form prescribed and may contain any terms and conditions, not inconsistent with this Part or the regulations, as may be agreed on by the Board, subject to sections 32 to 37, and the interest owner of the production licence.