Transfers, dealings, change in control & other titleholder transactions

The approval or refusal of a transfer, dealing or change in control is a decision of the Titles Administrator under Chapter 4, 5 or 5A of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (the Act).

The transfer of a petroleum title usually involves transferring a title, or an interest in a title, from one legal entity to another.

A change in control relates to a change in companies that own the registered titleholder company (e.g. through a company sale or acquisition of shares). Titles Administrator approval must be sought for all changes in control that take effect on or after 2 March 2022.

A dealing is a transaction (other than a transfer of title) having one or more of the effects listed in section 486 of the Act.

A devolution of title is where the interest in a title transfers from one party to another by operation of law (for example, by court order).

A change of company name (as distinct from a change in control) is where there is a change in the name of a company that is a registered titleholder.

Useful links

• Offshore Petroleum and Greenhouse Gas Storage Act 2006
• Guideline: Transfers and dealing guideline (for applications submitted prior to 2 March 2022)
• Factsheet—Signatures—Execution of NOPTA forms by companies
• Fees

New guidance commencing on 2 March 2022

• Guideline: Transfers, dealings, change in control and other titleholder transactions (includes greenhouse gas storage titles)
• Guideline: Applicant suitability (includes greenhouse gas storage titles)
• Factsheet: Financial resources
• Factsheet: Declaration of experience and disclosures
• Factsheet: Frequently asked questions: declaration of experience and disclosures
• Factsheet: Change in control of a registered holder
• Factsheet: Frequently asked questions: change in control of a registered titleholder