Petroleum Legislation Amendment Bill 2017 (QLD) Passes Parliament

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Petroleum Legislation Amendment Bill 2017 (QLD) Passes Parliament

The Petroleum Legislation Amendment Bill 2017 (NSW) has passed both houses and is awaiting royal assent. The Bill will amend Petroleum and Geothermal Energy Resources Act 1967 (WA) and the Petroleum (Submerged Lands) Act 1982 (WA) to respond to the requirement of apportionment requirements where a petroleum pool extends into two licence areas and legislate the right to change maritime boundaries in the future. The reform has been catalysed by a joint venture in the north western waters off the coast of WA that has substantial petroleum reserves. The right to change maritime boundaries is modelled on Commonwealth legislative changes in 2015. The Committee on Uniform Legislation and Statutes Review released their report into the Bill and found that although it impacts upon the Parliament’s sovereign powers, ultimately the Bill had justified this outcome. The Bill remains in the Legislative Council.

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