Overview
The National Offshore Petroleum Titles Administrator (NOPTA) recently completed a review of the 2022 Cost Recovery Implementation Statement (CRIS).
We are consulting with industry stakeholders on the proposed revisions to our CRIS.
Why we are consulting
The challenge for our cost recovery in the future is to maintain financial sustainability and effective regulation. We must recover the costs of our activities in an inflationary environment that is complex, rapidly evolving and uncertain.
Issues and risks we are managing include:
growth in greenhouse gas (GHG) activity
continued implementation and application of the new GHG titles assessment process
increased transactions and decommissions associated with ageing assets and a maturing industry
increasing employee costs.
We don’t automatically index our fees and levies to keep pace with inflation. The last increase was 1 January 2022.
To meet ongoing operational costs, we are proposing an increase in levies and fees from 1 September 2024. We will review this in 12 months.
Consultation documents
Read the draft 2024 Cost Recovery Implementation Statement (CRIS) [693KB PDF] [241KB DOCX]