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Canning Basin Joint Venture Legislation Surpasses Legal Hurdle

Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015

The Bill has been read for a second time in the Legislative Council. The Bill seeks to legislate the 2015 Variation Agreement between the State of Western Australia and the Joint Venturers (Buru Energy Limited, Diamond Resources (Fitzroy) Pty Ltd, and Diamond Resources (Canning) Pty Ltd). The Joint Venturers are currently exploring the Canning Basin to determine the feasibility of petroleum and natural gas extraction in the area. This Bill seeks to give investment stability to the Joint Venturers tenures and provide energy security for Western Australia.

 

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