Following recent changes to the Offshore Petroleum and Greenhouse Gas Storage Act 2006 and regulations, the Department of Industry, Science, Energy and Resources has published on its website a new Guideline: trailing liability for decommissioning of offshore petroleum property.
The guideline has been produced to help industry to understand the scope of new ‘trailing liability’ provisions which came into force on Wednesday 2 March 2022 and to provide general information about how government may apply these provisions.
Read more about the trailing liability provisions and new guideline in the news article. A link to the new guideline is also available on NOPTA's website here.
