LawgistThe Offshore Areas Mineral (Development and Regulation) Act
14Period of commencement of operating rights
A holder of operating right shall commence operation within the period specified below after the grant of the operating right and shall thereafter conduct such operation in proper, skilful and workman- like manner, as follows:--
(a) reconnaissance permit --six months;
(b) exploration licence --one year; and
(c) production lease --two years.
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GENERAL PROVISIONS FOR ACQUISITION OF OPERATING RIGHTS IN THE OFFSHORE AREAS
- 5 Reconnaissance, exploration or production to be under permit, licence or lease
- 6 Grant of operating right
- 7 Termination of operating right
- 8 Reservation of areas
- 9 Power of close areas
- 10 Availability of areas for grant of permit, licence or lease
- 11 Grant of reconnaissance permit
- 12 Grant of exploration licence
- 13 Grant of production lease
- 14 Period of commencement of operating rights
- 15 Power of Central Government to authorise survey, research and scientific investigations in areas covered under operating rights
- 16 Royalty
- 17 Fixed rent
- 18 Contribution towards International Seabed Authority
- 19 Safety of persons and property
- 20 Prevention and control of pollution and protection of marine environment
- 21 Power of Central Government and administering authority to issue directions
