Last week the Petroleum Legislation Amendment Bill 2016 (WA) was introduced to Parliament. The purpose of the Bill is to provide for petroleum apportionment agreements across state and federal jurisdictions, including offshore petroleum. This Bill has been catalysed by the Torosa project apportionment. The WA Government views the current apportionment arrangement as too simple to adapt if further exploration discovers separate resource pools. If this occurs, the current apportionment arrangement would likely fail. Thus this Bill seeks to assert certainty by creating adaptable apportionment arrangements and limit future disputes between state and federal governments.
Kingfisher Law are Australia's agribusiness legal specialists and will discuss any legal issue you may be experiencing, in a confidential and professional manner. Call 1300 529 424 to book a consultation.