Small oil field
This section has no associated Explanatory Notes
21(1)In this Schedule “small oil field” means an oil field which has reserves of oil of 3,500,000 tonnes or less.
(2)For the purposes of this paragraph and paragraph 24(2)—
(a)the amount of reserves of oil which an oil field has is to be determined on the authorisation day;
(b)1,100 cubic metres of gas at a temperature of 15 degrees celsius and pressure of one atmosphere is to be counted as equivalent to one tonne.