18 February 2020

Keith Pitt MP appointed as Minister for Resources, Water and Northern Australia  

The Hon Keith Pitt was sworn in as Minister for Resources, Water and Northern Australia on 6 February 2020. 

Keith Pitt is the Federal Member for Hinkler in regional Queensland. After successful careers in farming and small business, Keith entered politics to be a strong local voice for regional Australia.

More information on Minister Pitt can be found here. 

Nominations for 2020 close, nominations open for the 2021 Acreage Release 

Nominations of offshore areas for the 2020 acreage release closed on 31 January, so nominations received from 1 February will be considered for the 2021 acreage release.  

To find out more about nominations or to nominate an area  please go to our website or email petroleum.exploration@industry.gov.au.

2020 Acreage Release areas public consultation 

Public consultation on potential areas for the 2020 Offshore Petroleum Acreage release opens on Tuesday 17 March 2020.

The consultation is an opportunity for you to comment and provide feedback on potential release areas and highlight how exploration activities in these areas may impact on you.  Submissions will be considered when determining which areas will be made available for bidding as part of the 2020 acreage release.

Submissions will be open until Thursday 30 April, and can be made on the department's Consultation Hub. 

Further information will be included in future editions of Australian Petroleum News and on Twitter (@ResourcesAusGov). 

Australian Domestic Gas Security Mechanism review 

The government’s Australian Domestic Gas Security Mechanism (ADGSM), implemented in 2017 to allow the government to restrict exports if the domestic market was in shortfall, was reviewed recently. 

The review was released on 24 January 2020 and found that the ADGSM has been working effectively to secure gas supplies for Australian companies.

The review recommends:

• The ADGSM be retained until its scheduled repeal in 2023.
• The ADGSM’s total market security obligation be altered to enhance its ability to recover gas for the domestic market in the event of a shortfall
• The ADGSM guidelines reference the ACCC’s netback price series as a factor in estimating a potential shortfall in the domestic market.

The department is currently undertaking consultations with affected stakeholders on implementing the recommendations to ensure there are no unintended consequences.

Decommissioning review update 

The department’s review of the decommissioning framework for offshore petroleum infrastructure in Commonwealth waters is continuing. 

A paper outlining a proposed revised decommissioning framework is expected to be publicly released by mid 2020.  The department is working to ensure a revised framework is fit-for-purpose and provides robust protections and assurances for the Australian Government and taxpayer.

Following the paper’s release, all interested parties will have an opportunity to comment on the paper through public sessions, as well as written comments and submissions.

The department will consider feedback on the proposed framework prior to providing final recommendations for consideration by the Australian Government in late 2020. 

For more information on the review or to register your interest in receiving updates on the review, please contact offshorepetroleumreform@industry.gov.au.

Follow us on Twitter in 2020

Join your industry colleagues and others following us on Twitter for the latest Australian Government news for resources sector @ResourcesGovAu

To unsubscribe from this list email OffshoreResources@industry.gov.au