Section 98: Administration of a Revoked Producing Lease.

1 Within 30 days of the revocation of a petroleum mining lease or participating or shareholder interest in a petroleum mining lease which is producing, the Minister may, on the recommendation of the Commission, appoint an interim operator to ensure petroleum operations continue from the areas and zones subject to the petroleum mining lease based on good international petroleum industry practices.

2 The interim operator appointed under subsection (1) shall serve for a period to be determined by the Commission and the related contract shall be on a service fee basis.

3 During the tenure of an interim operator, the Commission may conduct a fair, transparent and competitive bidding process for the grant of a new petroleum mining lease to replace the revoked petroleum mining lease.