The Australian Government has considered and endorsed an enhanced framework for decommissioning offshore oil and gas infrastructure.
We are now preparing to implement the framework through legislative and policy changes. An implementation plan is expected to be released soon.
As part of the implementation, the government is seeking feedback on the draft Offshore Petroleum and Greenhouse Gas Storage Amendment (Titles Administration and Other Measures) Bill 2021.
The Bill aims to strengthen and clarify Australia’s offshore oil and gas regulatory framework.
The proposed Bill will:
- expand existing trailing liability provisions
- increase oversight of changes in titleholder ownership and control
- increase regulatory scrutiny of the suitability of companies operating, or looking to operate, within Australia’s offshore petroleum regulatory regime
-
expand information gathering powers to enable scrutiny
The Bill makes the legislative changes necessary to give effect to the enhanced framework. The Bill also gives effect to the relevant recommendations of the independent review into the circumstances leading to the administration and liquidation of Northern Oil and Gas Australia (the Walker Review).
See the draft Bill and have your say on our Consultation Hub.
Consultation closes on Friday 23 April 2021.
Read more
- The Minister announced public consultation on the draft Bill
- Read more about the enhanced framework for decommissioning offshore oil and gas infrastructure
- See how we regulate offshore oil and gas in Commonwealth Waters