Summary of petroleum title types
This page contains a summary of the types of petroleum titles which can be obtained in the Northern Territory under the Petroleum Act or the Petroleum (Submerged Lands) Act.
| Petroleum Act | Petroleum (Submerged Lands) Act | |
|---|---|---|
| Title type | Exploration permit | Exploration permit |
| Reference | EP | NTC/P |
| Term | 5 years - 50% relinquishment at end | 6 years - 50% relinquishment at end |
| Renewal term | 5 years - maximum of 2 renewals | 5 years - maximum of 2 renewals |
| Maximum blocks | 200 (5ft block/s) | 400 (5ft block/s) |
| Title type | Retention licence | Retention lease |
| Reference | RL | NTC/RL |
| Term | 5 years | 5 years |
| Maximum blocks | 12 (5ft block/s) | Extent of petroleum pool/location (5ft block/s) |
| Renewal term | Subsequent 5 year periods if discovery remains uncommercial | Subsequent 5 year periods if discovery remains uncommercial |
| Title type | Production licence | Production licence |
| Reference | L | NTC/L |
| Term | 21 or 25 years | 21 or 25 years |
| Renewal term | Up to 25 years | 21 years |
| Maximum blocks | 12 | Extent of petroleum pool/location |
Last updated: 04 August 2016