Original article by Nick Evans
The Australian – Page: 17 & 20 : 10-Jul-19
Saul Kavonic of Credit Suisse says the National Offshore Petroleum Titles Administrator recently warned the Browse LNG partners that they could potentially forfeit their leases under ‘use it or lose it’ provisions. Resources Minister Matt Canavan has also issued a similar warning to Woodside Petroleum and its partners, whose retention leases must be renewed in mid-2020. Kavonic suggests that NOPTA could potentially subject the Browse partners to certain conditions if the leases are renewed, or seek to exclude certain partners that have been reticent about making a final investment decision.
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BP PLC, JAPAN AUSTRALIA LNG PTY LTD, PETROCHINA COMPANY LIMITED, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM TITLES ADMINISTRATOR, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, CREDIT SUISSE (AUSTRALIA) LIMITED