Parliament passes offshore petroleum title amendments
24 February 2016
The Government has acted quickly to resolve an administrative oversight relating to several offshore petroleum title renewal and extension decisions.
Today the Offshore Petroleum and Greenhouse Gas Storage Amendment Bill 2016 passed both houses of the Parliament to deem relevant prior usage right renewal and extension decisions, made between 2008 and 2015, to have been correctly processed, enabling titleholders to continue their operations as per usual.
Administrative arrangements have been put in place to ensure correct processing going forward.
I acknowledge the efforts of the Opposition, and in particular the Hon Gary Gray AO MP, in supporting the speedy passage of this Bill.
Australia continues to apply international best practice in offshore petroleum environmental, safety and well integrity assessment and management.
Media contact: Mr Frydenberg's office 02 6277 7180
Department media: media [at] industry.gov.au