Feedback open for OPGGS Act guidelines & factsheets

27 October 2021

The Department of Industry, Science, Energy and Resources (DISER) is inviting feedback on a suite of offshore petroleum and greenhouse gas guidelines and factsheets. Existing guidance has been updated and new material developed to reflect recent amendments to the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (OPGGS Act), including:

• new applications for change in control of registered titleholders
• extended decision–making criteria across all applications

The majority of these changes come into force on 2 March 2022. Consultation on guidance material is occurring now to ensure the updated guidance is available to industry before commencement. Guidelines and factsheets currently open for consultation are:

1. Applicant suitability
• Guideline: Applicant Suitability (new)
• Factsheet: Declaration of Experience and Disclosures (new)
• Factsheet: Financial Resources (new)
2. Exploration
• Guideline: Offshore Petroleum Exploration – Work–Bid (updated)
3. Retention leases
• Guideline: Retention Leases (updated)
• Factsheet: Retention Lease Application Content (new)
4. Decommissioning
• Guideline: Offshore Petroleum Decommissioning (updated)
5. Transfers, dealings and change in company control applications
• Guideline: Transfers, dealings, change in control and other titleholder transactions (updated)

Guidance to support expanded trailing liability provisions is currently under development and will be published in 2022.

Your feedback will help to ensure that the updated guidance material is fit for purpose, clear and actionable. Consultation closes on 22 November 2021. More information and links to relevant guidance material is available on DISER’s website: https://consult.industry.gov.au/updated-offshore-oil-and-gas-guidance.