Energy and Resources Point-in-Time Service Updates

The Energy and Resources Point-in-Time Service has just been updated to include a new Queensland principal regulation, the Petroleum and Gas (General Provisions) Regulation 2017 (No. 162).

Regulation 162 of 2017 (Qld)

The Petroleum Regulation 2004 and the Petroleum and Gas (Production and Safety) Regulation 2004 came into effect in 2004 and have been exempted from expiry since 2014. The current exemption from expiry ends on 31 August 2017.

The Petroleum Regulation 2004 and the Petroleum and Gas (Production and Safety) Regulation 2004 have some, or all of the following three components:

• general provisions (predominantly consisting of notifications about the start and end of particular authorised activities for petroleum tenure or authorities, the reporting about these activities, records and samples taken during these activities, measurement tolerances for meters, annual fees and rents);
• safety and health provisions, and
• royalty provisions.

Initially, the Petroleum Regulation 2004 and the Petroleum and Gas (Production and Safety) Regulation 2004 were to both be remade, with the objective of extracting both the general provisions and the safety and health provisions and remaking them into stand-alone regulations. The royalty provisions were to remain in the Petroleum and Gas (Production and Safety) Regulation 2004. To this end, the Petroleum and Gas (Production and Safety) Regulation 2004 has been exempted from expiry for a further 12 month period.

The safety and health provisions will remain in the Petroleum and Gas (Production and Safety) Regulation 2004 and the safety and health provisions in the Petroleum Regulation 2004 would be transposed to the Petroleum and Gas (Production and Safety) Regulation 2004 via the Petroleum and Gas (Production and Safety) and Other Legislation Amendment Regulation 2017.

The royalty provisions are to remain in the Petroleum and Gas (Production and Safety) Regulation 2004 until such time as Queensland Treasury carry out a State-wide review of royalties payable. Subject to a stand-alone royalty regulation being made, the Petroleum and Gas (Production and Safety) Regulation 2004 will be allowed to expire.

The general provisions have been extracted from the Petroleum Regulation 2004 and the Petroleum and Gas (Production and Safety) Regulation 2004 and remade into the Petroleum and Gas (General Provisions) Regulation 2017.

The new principal regulation is now available in the Point-in-Time Energy and Resources Service with a currency of 11 September 2017. (NB: Subscription required).

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