25 March 2015 Update on Legislative and Regulatory Amendments On 20 March 2015, two offshore amendment bills received Royal Assent and commenced in full on that day – details can be found below: Offshore Petroleum and Greenhouse Gas Storage Amendment (Miscellaneous Measures) Act 2014 (Miscellaneous Measures Act) Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Amendment (Designated Coastal Waters) Act 2014 (Regulatory Levies Act). On 19 March 2015, the following bills were passed by both houses of Parliament: Offshore Petroleum and Greenhouse Gas Storage Amendment (Miscellaneous Matters) Bill 2015 (Miscellaneous Matters Bill) Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Amendment (Miscellaneous Matters) Bill 2015 (Regulatory Levies Bill). The Department of Industry and Science expects these two bills to receive Royal Assent within the fortnight. Details of the two bills were detailed in the February 2015 edition of the Australian Petroleum News. Miscellaneous Measures Act This Miscellaneous Measures Act contained two key measures as described below. Expansion of definition of designated coastal waters The Offshore Petroleum and Greenhouse Gas Storage Act 2006 (the Act) permits the States and Northern Territory to confer functions and powers on the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) in respect of their ‘designated coastal waters’. These areas were previously defined as waters seaward of the territorial sea baseline by three nautical miles. This meant functions and powers could not be conferred by the relevant State or Northern Territory on NOPSEMA with respect to waters landward of the territorial sea baseline and within the limits of the States or Northern Territory. To this end, the Miscellaneous Measures Act expands the definition of ‘designated coastal waters’ to also cover all waters landward of the territorial sea baseline, including the internal sea waters of the States and Northern Territory. AUSTRALIAN PETROLEUM NEWS | www.petroleum-acreage.gov.au 1 This increases the ability of the States and Northern Territory to confer functions and powers on NOPSEMA over a wider geographic area and therefore maximises the potential to streamline regulatory arrangements between the States and Northern Territory and the Commonwealth in respect of all offshore petroleum activities. Eligible Voluntary Actions Previously the Act provided that, where there are multiple registered holders of a single title, this group of titleholders may only undertake an ‘eligible voluntary action’ once they have nominated one titleholder in the group to act on behalf of all the other titleholders. This resulted in some confusion among titleholders as to procedural requirements when taking eligible voluntary actions and consequential administrative inefficiencies. The Miscellaneous Measures Act provides an additional second administrative arrangement for multiple titleholders to validly take eligible voluntary actions. It provides that multiple titleholders may choose between either using the existing nominations process or by affixing the signatures of all titleholders to the relevant documentation. Further, the Miscellaneous Measures Act clarifies that if a nomination for a titleholder to make ‘eligible voluntary actions’ ceases to be in force because it is revoked by another titleholder or because the titleholder ceases to be a registered titleholder, any eligible voluntary actions validly taken by the nominated titleholder before the nomination ceased remain valid. Regulatory Levies Act The Regulatory Levies Act amends the Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Act 2003 as a consequence of amendments to the definition of designated coastal waters. For constitutional reasons, the Regulatory Levies Act specifically limits the operation of the levy regime so that it applies only to the waters covered by the current definition of designated coastal waters, and not to the expanded definition as provided by the amendments in the Miscellaneous Measures Act. Any queries regarding the recent legislative amendments can be directed to Jessica Brown, Manager Legislation Review, Offshore Resources Branch on jessica.brown@industry.gov.au or 02 6243 7134. Petroleum exploration opportunities – 2014 Acreage Release round 2 Closing date Thursday 2 April 2015 This round includes 12 areas and two rerelease areas from round 1. Entities that have entered into a Good Standing Arrangement with the Joint Authority are encouraged to review the rerelease areas. It is the responsibility of entities that have entered into a Good Standing Arrangement to maintain good standing with the Joint Authority. Geoscience Australia provides precompetitive geological data associated with the release areas at the cost of transfer; the data package can be ordered by emailing ausgeodata@ga.gov.au. Please note the website contains the most up to date information. AUSTRALIAN PETROLEUM NEWS | www.petroleum-acreage.gov.au 2 Area Basin Sub basin AC14-1 Bonaparte Vulcan W14-1 Bonaparte Petrel W14-6 Northern Carnarvon Rankin Platform W14-8, W14-9, W14-10, W14-11, W14-12 and W14-13 Northern Carnarvon Exmouth Plateau W14-17 and W14-18 Northern Carnarvon Exmouth W14-19 Bight Eyre W14-3 Browse Caswell W14-14 Northern Carnarvon Barrow Re-release areas Are you on our distribution list? This newsletter is prepared by the Offshore Exploration Section, Resources Division, Australian Government Department of Industry and Science. If you or your colleagues would like to receive this newsletter, please send your email address to: petroleum.exploration@industry.gov.au. If you change your email address please notify the Offshore Exploration Section. There is no charge for this service. This distribution list is not used for purposes other than notifying registered parties of relevant petroleum issues. Postal Address: Email: Website: GPO Box 9839, Canberra ACT 2601, Australia petroleum.exploration@industry.gov.au www.petroleum-acreage.gov.au AUSTRALIAN PETROLEUM NEWS | www.petroleum-acreage.gov.au 3