| (a) |
subject to subsection (2), has the exclusive right to apply for and be granted renewal of the production right in respect of the petroleum area in question; |
| (b) |
has the exclusive right to remove and dispose of any petroleum found during the course of production; and |
| (c) |
may only transfer and encumber the production right, subject to section 11. |
| (2) |
The holder of a production right must— |
| (a) |
lodge such right for registration at the Mineral and Petroleum Titles Registration Office within 60 days after the right has become effective; |
[Section 86(2)(a) substituted by section 64(a) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
| (b) |
continuously and actively conduct production operations in accordance with the approved production work programme; |
| (c) |
comply with the terms and conditions of the production right, the relevant provisions of this Act and any other law; |
[Section 86(2)(c) substituted by section 64(b) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
[Section 86(2)(d) substituted by section 64(b) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
| (e) |
in terms of any relevant law, pay the State royalties; and |
[Section 86(2)(e) substituted by section 64(b) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
| (f) |
commence with production operations within one year from the date on which a production right becomes effective in terms of section 84(5) or such extended period as the Minister may authorise; and |
| (g) |
[Section 86(2)(g) deleted by section 64(c) of the Mineral and Petroleum Resources Development Amendment Act, 2008] |
Special Investigating Units and Special Tribunals Act, 1996
