353“Small oil field”U.K.
This section has no associated Explanatory Notes
(1)In this Chapter “small oil field” means an oil field which has reserves of oil of [F17,000,000 tonnes] or less.
(2)For the purposes of this section and section 356(2)—
(a)the amount of reserves of oil which an oil field has is to be determined on the authorisation day, and
(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.
Textual Amendments
F1Words in s. 353(1) substituted (with effect in accordance with art. 8 of the amending S.I.) by The Qualifying Oil Fields Order 2012 (S.I. 2012/3153), arts. 1(1), 4