We have extended this consultation. The original closing date was 13 January 2026.
Overview
The Australian Government is seeking feedback on reforms to decommissioning and financial assurance arrangements for the offshore oil and gas industry.
Australia has up to $60 billion of offshore oil and gas decommissioning activities expected to occur over the next 30 to 50 years. It is important that industry is taking the right steps to prepare for and undertake this work in a safe, timely and environmentally responsible manner.
While the paper focuses mainly on oil and gas projects, we’re also seeking input on the regulatory regime for decommissioning greenhouse gas storage projects (commonly known as carbon capture and storage).
Your feedback to this consultation will help us develop these reforms and may also inform related activities.
There will be future public consultation informed by the responses to this paper. We will also consult on any legislative changes.
Proposed areas for reform
The proposed reforms aim to strengthen the decommissioning framework so industry:
decommissions in a timely, safe and environmentally responsible way
remains responsible for the risks and liabilities of offshore activities.
The consultation paper invites feedback on:
the existing decommissioning framework in Australia
lessons from international and onshore frameworks
proposed areas for reform, including:
decommissioning planning
financial planning and assurance
decommissioning and financial capacity risk assessments
compliance and enforcement tools
title surrender.
Consultation paper
Offshore decommissioning and financial assurance reforms: consultation paper [471KB PDF] [564KB DOCX]