Original article by Perry Williams
The Australian – Page: 13 & 18 : 30-Jun-21

APPEA CEO Andrew McConville warns that the federal government’s proposed levy on the nation’s offshore oil and gas industry will be a major disincentive for investment in the sector. The levy of $0.48 per barrel on offshore production would be used to help meet the cost of decommissioning the Northern Endeavour floating platform and associated oil fields in the Timor Sea. The levy would take effect on 1 July and is expected to cost about $367m a year, and potentially up to $1bn in total. A key criticism of the levy is the fact that it would apply to energy producers that had no exposure to the Northern Endeavour project.

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

Original article by Perry Williams
The Australian – Page: 19 : 13-May-21

Industry body APPEA has expressed concern about the federal government’s proposed levy on the nation’s offshore oil and gas industry. The Budget measure will help fund the cost of decommissioning the Northern Endeavour floating platform and the associated Laminaria and Corallina oil fields in the Timor Sea. APPEA Andrew McConville says other options should be considered, warning that the levy is a "terrible precedent" that could adversely affect the domestic economy and jobs in the oil and gas sector.

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED