QUEENSLAND’S NEW PETROLEUM LEGISLATION—ITS IMPLEMENTATION AND OPERATIONAL CHALLENGES

Abstract

up-to-date legislative environment for the petroleum industry in that State. The legislation specifically addressed issues in relation to upstream competition for exploration acreage and provided for storage of petroleum for a third party. It implemented the coal seam gas regime which provides a mechanism for the optimisation of the State’s coal seam gas and petroleum resources. The rights of existing holders of petroleum tenure were protected through the continuation of the Petroleum Act 1923 for selected authorities to prospect and petroleum leases. A new safety regime was implemented with the aim of addressing and managing risk rather than the emphasis being on the prescriptive compliance with Regulations. The safety regime covered all aspects of petroleum, from its production, transportation and use. The implementation of the new legislation required the development of work procedures to assist with uniform decision-making under the new legislation. This is particularly important owing to the continuation of the Petroleum Act 1923.