Petroleum and Other Minerals Development Act, 1960

Right of Minister to work and dispose of petroleum.

14.—(1) It shall be lawful for the Minister, with the consent of the Minister for Finance, at any time, subject to the terms of any licence or lease granted under this Part, to work petroleum in any area or areas and to sell or otherwise dispose of petroleum obtained by such working.

(2) Before commencing to work petroleum in exercise of the powers conferred on him by subsection (1) of this section, the Minister shall—

(a) specify the area or areas (each of which shall not be less than two square miles or more than five square miles in extent) within which he proposes to exercise those powers,

(b) publish in the Iris Oifigiúil a notice stating the locality and extent of such area or areas.

(3) The Minister may authorise any person in writing to exercise for and on behalf of the Minister the powers conferred on the Minister by this section and any act done by such person in pursuance of such authority shall for the purposes of this Part be deemed the act of the Minister.

(4) Where the Minister sells or disposes of petroleum under this section, the proceeds of such sale or disposal shall be paid into the Exchequer in such manner as the Minister for Finance shall direct.