Bills Digest no. 29 2008–09
Offshore Petroleum (Annual Fees) Amendment (Greenhouse Gas
Storage) Bill 2008
This Digest was prepared for debate. It reflects the legislation as
introduced and does not canvass subsequent amendments. This Digest
does not have any official legal status. Other sources should be
consulted to determine the subsequent official status of the
Contact officer & copyright details
18 June 2008
House: House of Representatives
Portfolio: Department of Resources, Energy and
The day after the Offshore
Petroleum Amendment (Greenhouse Gas Storage) Act 2008 receives
relevant links to the Bill, Explanatory Memorandum and second
reading speech can be accessed via BillsNet, which is at http://www.aph.gov.au/bills/.
When Bills have been passed they can be found at ComLaw, which is
Petroleum (Annual Fees) Amendment (Greenhouse Gas Storage) Bill
2008 (the Bill) proposes to amend the Offshore Petroleum
(Annual Fees) Act 2006 (the Act) to add greenhouse gas titles
to those titles for which annual fees are payable under the
For a comprehensive background to the proposed
greenhouse gas storage regime, please refer to the Bills
Digest on the Offshore Petroleum Amendment (Greenhouse Gas
Storage) Bill 2008.
The government has stated that:
The operator of a greenhouse gas sequestration
title will face many compliance costs analogous to the operation of
offshore petroleum titles. Lodgement of documents, compilation of
plans, requests for permission and record keeping are expected to
be broadly consistent with that under the OPA. In the absence of
detail on regulation and guidelines, it is impossible to quantify
such costs at this stage with traditional tools such as the OPBR
Business Cost Calculator.
The Bill contains two schedules.
Items 1-4 of Schedule
1 of the Bill contain consequential amendments to the Act
so that the words and Greenhouse Gas Storage are inserted after the
words Offshore Petroleum
Item 5 of Schedule
1 of the Bill proposes to insert new section
4A into the Act, which would provide that annual fees
would be payable with respect to the following greenhouse gas
- work-bid greenhouse gas assessment permits
- greenhouse gas holding leases, and
- greenhouse gas injection licences.
The amount of fee payable is to be set out in,
or calculated in accordance with, the regulations: proposed
Schedule 2 of the Bill
contains minor amendments to change references to petroleum
17 September 2008
Bills Digest Service
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