Energy and Resources Point-in-Time Service Updates

Tuesday 21 January 2020 @ 9.40 a.m.

The Energy and Resources Point-in-Time Service has been updated to include the Offshore Petroleum and Greenhouse Gas Storage Amendment (Miscellaneous Amendments) Act 2019 (Cth) (Act 92 of 2019).

Act 92 of 2019

An Act to amend the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (the OPGGS Act) to:

  • transfer regulatory responsibility for offshore greenhouse gas wells and environmental management from the responsible Commonwealth Minister to the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA);
  • strengthen and clarify the powers of NOPSEMA inspectors to monitor and enforce compliance by regulated entities with their obligations under the OPGGS Act and associated regulations;
  • ensure valid designation of certain areas as ‘frontier areas’ for the purposes of the Designated Frontier Area tax incentive;
  • future-proof references to regulations made under the OPGGS Act in provisions of that Act; and
  • make minor policy and technical amendments to improve the operation of the OPGGS Act.

The new amendments have been updated in the Point-in-Time Energy and Resources Service current to 20 January 2020. (NB: Subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial