Australia's new oil & gas financial assurance regime

Articles Written by Michael Dulaney (Consultant), Tom Barrett (Senior Associate)

Michael Dulaney and Tom Barrett were published in the 11th Edition (2015) of Expert Guides in the Energy category. 

EXCERPT: In the After a blowout at the Montara Wellhead Platform in August 2009 off the northern coast of Western Australia, which resulted in the destruction by fire of the platform and the uncontrolled release of hydrocarbons into the sea for 74 days, the Australian Government reviewed the adequacy of the regulatory regime under its offshore legislation to deal with such incidents. One of its concerns was the ability of petroleum titleholders to meet the costs and any liabilities which might arise out of a similar environmental incident. Following that review, it introduced amendments to the financial assurance provisions of the relevant legislation.

Read the full article here.

For more information, please contact Michael Dulaney.

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