Allow Offshore Gas Storage in Empty Underground Reservoirs (Plus Stricter Regulatory Oversight)
Offshore Petroleum and Greenhouse Gas Storage Amendment Bill 2024
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
Criminal offence for intentionally carrying out underground petroleum storage operations in offshore areas without a licence or authorisation, punishable by up to 5 years imprisonment
Petroleum project inspectors may access structures, vessels, aircraft or buildings in offshore areas if they suspect the asset is used for underground petroleum storage
The Minister or a petroleum project inspector can compel people to provide information, documents or evidence relating to underground petroleum storage
Holders of petroleum production licences gain the right to inject petroleum into natural reservoirs for later recovery
Ownership of injected petroleum stays with the original owner unless the petroleum production licence is cancelled or surrendered, in which case ownership transfers to the Crown
Registered holders of petroleum production licences must perform storage operations in a workmanlike manner and according to good oilfield practice
People operating under permits or leases in offshore areas must not interfere with underground petroleum storage more than is necessary to perform their duties
News articles and press releases
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