(1) where an accumulation of petroleum extends beyond the boundaries of one contract area into one or more other contract areas the Minister in consultation with the Commission may, for the purpose of ensuring optimum recovery of petroleum from the accumulation of petroleum, direct the relevant contractors to enter into agreement to develop and produce the accumulation of petroleum as a single unit

(2) The agreement shall be entered into within a period specified by the Minister and shall be submitted to the Minister for approval.

(3) Where two or more accumulations of petroleum are in proximity to one another but are

(a) in different contract areas, or

(b) in one contract area and an area not covered by a petroleum agreement, the Minister may require the accumulations of petroleum to be developed and produced in a coordinated manner in order to ensure efficient petroleum activities.

(4) Where an accumulation of petroleum extends beyond the boundaries of a contract area into an area not covered by a petroleum agreement or an authorization under section ll (1), the Minister may authorize the Corporation to enter into a contract for the development and production of the accumulation of petroleum, and require the accumulation of petroleum to be developed as a single unit.

(5) The Minister may stipulate conditions and make appropriate directions to the Corporation and the contractor as prescribed for the unitized development and such conditions, if significantly different from the conditions of the adjoining contract area, shall be ratified by Parliament.