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Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002)

Chapter 6 : Petroleum Exploration and Production

86. Rights and obligations of holder of production right

 

(1) In addition to the rights referred to in section 5, the holder of a production right
(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]

(d) comply with the conditions of the environmental authorization and the prescribed social and labour plan;

[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]

 

 


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