Maintaining petroleum titles

You must apply in writing for approval and registration of a dealing affecting a title and include all of the following information:

• the type of dealing - e.g. farmout, assignment, joint operating agreement
• brief details of the main effects of the dealing, including who is affected
• any relevant previous dealings
• any payment for the dealing, including for relevant previous dealings
• the nature of any related corporations and other factors necessary for the department to decide whether you need to pay a related corporations registration fee
• details of the incoming corporation’s financial status and its ability to fund its share of the venture
• details of the incoming corporation's technical expertise, or access to expertise
• whether the incoming corporation has any other current or previous involvement in petroleum exploration and development.

The original copy of the agreement to be registered as a dealing must be assessed for stamp duty, or endorsed as exempt, by the Commissioner of Territory Revenue before it is attached to the application.

How to apply

To apply to register a dealing, you must complete the relevant form.

The application you use depends on the Act that your petroleum title falls under:

• Petroleum Act 1984: NT onshore and inland waters
• Petroleum (Submerged Lands) Act 1981: NT coastal waters
• Petroleum (Prospecting and Mining) Act.

You must make separate applications for each title affected by a dealing.

You must pay a fee when you register a dealing. Read more about fees and rents.

Any of the parties involved in the transfer of a petroleum title can apply to transfer the title.

A party that has applied for a petroleum title can also apply to transfer its interest in the application to another party.

A change in control of a corporation that is a title holder must also be approved and is assessed in the same way as a transfer. A change in control occurs where a person or group of persons can exercise or control the majority of votes at the corporation’s director or shareholder meetings.

All parties involved in holding a title must agree to the transfer.

You must apply in writing and include all of the following information:

• names of the companies that will hold the title and details of the proposed participating interests
• any relevant previous dealings
• any payment for the relevant previous dealings
• the nature of any related corporations and other factors necessary for the department to decide whether you need to pay a related corporations registration fee
• information demonstrating that the proposed transferee, and any associated entity, is an appropriate person to hold the petroleum title.

The new holder of, or party to, the title must be able to prove their financial and technical ability to fulfil the title's conditions and carry out the originally approved work program.

How to apply

To apply to register a transfer, you must complete the relevant form.

The application you use depends on the Act that your petroleum title falls under:

• Petroleum Act 1984: NT onshore and inland waters
• Petroleum (Submerged Lands) Act 1981: NT coastal waters
• Petroleum (Prospecting and Mining) Act.

You must make separate applications for each title affected by a transfer.

You must pay a fee when you transfer a title. Read more about fees and rents.