Offshore Decommissioning and Financial Assurance Reform - Consultation Paper

Description

The Australian Government is seeking feedback on reforms to decommissioning and financial assurance arrangements for the offshore oil and gas industry.

Australia has up to $60 billion of offshore oil and gas decommissioning activities expected to occur over the next 30 to 50 years. It is important that industry is taking the right steps to prepare for and undertake this work in a safe, timely and environmentally responsible manner.

While the paper focuses mainly on oil and gas projects, we’re also seeking input on the regulatory regime for decommissioning greenhouse gas storage projects (commonly known as carbon capture and storage).

Your feedback to this consultation will help us develop these reforms and may also inform related activities.

Period	2026
Work for	Department of Industry, Science, and Resources (Commonwealth), Australia, Australian Capital Territory
Degree of Recognition	National