Offshore Petroleum Resource Management Review

Closed 20 Feb 2015

Opened 26 Nov 2014

Overview

During 2014-15, the Department of Industry is undertaking a high-level strategic review of the framework governing oil and gas resource management in Commonwealth waters to ensure that the framework is fine tuned to support timely and efficient commercial investment, exploration and development.

The Review will identify key issues affecting the operation of the offshore resource management regime across the exploration and production lifecycle. It will also identify strategic actions that could be implemented to help improve certainty and flexibility, reduce regulatory compliance costs, and attract efficient, timely investment and development.

The Review will be informed by an open consultation process which will provide opportunity for effective stakeholder engagement. This Consultation Paper represents the beginning of this process. It seeks stakeholder views on the key issues and possible strategic actions that could be considered to help enhance current arrangements.

Audiences

  • Offshore petroleum exploration and production companies
  • Energy industry (including industry bodies)
  • Governments and institutions

Interests

  • Oil and gas investment
  • Resource recovery
  • Production licences
  • Retention leases
  • Exploration leases
  • Resource security
  • Innovation
  • Reducing regulatory burden