Cash Bidding Prequalification and Areas

September 2014

 Cash Bidding prequalification and areas  Petroleum exploration opportunities available – 2014 Acreage Release Round 1  Update – regulatory powers and other measures  2014 Offshore Greenhouse Gas Assessment Acreage Release - opportunities  Are you on our distribution list?

Cash Bidding prequalification and areas

Prequalification closing Thursday 30 October 2014 In order to participate in the cash bid auction on 5 February 2015 applicants must first prequalify with the Joint Authority. Prequalification is an assessment of the technical qualifications of the applicant and the technical advice and financial resources available to the applicant. Only eligible applicants will be invited to submit a cash bid. All prequalification applications are treated as commercial-in-confidence and must be submitted electronically to [email protected]. The Cash Bid Exploration Permit Guideline, including information about Foreign Investment Review Board requirements, the cash bid prequalification form and application fee details can be found on NOPTA’s website. There are four areas available for cash bidding in 2014:

Area Basin Sub basin W14-20 Northern Carnarvon Rankin Platform W14-21 Northern Carnarvon Barrow W14-22 Northern Carnarvon Exmouth Plateau W14-23 Browse Caswell

www.petroleum-acreage.gov.au Petroleum - 2014 Acreage Release Round 1

Closing date Thursday 2 October 2014 Round 1 of the 2014 Offshore Petroleum Exploration Acreage Release closes on Thursday 2 October 2014. This includes rerelease areas from the 2013 Acreage Release. Entities that have entered into a Good Standing Arrangement with the Joint Authority are encouraged to review the rerelease areas. It is the responsibility of entities that have entered into a Good Standing Arrangement to maintain good standing with the Joint Authority. Geoscience Australia provides precompetitive geological data associated with the release areas at the cost of transfer; the data package can be ordered by emailing [email protected] . Please note the website contains the most up to date information.

Area Basin Sub basin NT14-1, NT14-2 and NT14-3 Northern Bonaparte AC14-2, AC14-3 and AC14-4 Browse Northern Caswell W14-2, W14-3, W14-4 and Browse Caswell W14-5 W14-7 Northern Carnarvon Rankin Platform W14-14, W14-15 and W14-16 Northern Carnarvon Barrow W13-8 and W13-15 Northern Carnarvon Exmouth Plateau, Investigator W13-16 and W13-17 Northern Carnarvon Exmouth W13-19 W13-20 North Perth Houtman and Abrolhos

Update – regulatory powers and other measures

On 17 July 2014 two offshore legislation amendment Bills received Royal Assent:  Offshore Petroleum and Greenhouse Gas Storage Amendment (Regulatory Powers and Other Measures) Act 2014 (Regulatory Powers Amendment Act)

 Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Amendment Act 2014 (Regulatory Levies Amendment Act)

Further information about the amendments made by the two Acts was included in the May 2014 edition of Australian Petroleum News. As a result of the passage of and Assent to the Regulatory Powers Amendment Act, the regulatory powers amendments contained in the Offshore Petroleum and Greenhouse Gas Storage Amendment (Compliance Measures) Act 2013 and the Offshore Petroleum and Greenhouse Gas Storage Amendment (Compliance Measures No. 2) Act 2013 will now commence on commencement of the Regulatory Powers (Standard Provisions) Act 2014 (Regulatory Powers Act). The Regulatory Powers Act has been passed by Parliament and is to commence by Proclamation.

www.petroleum-acreage.gov.au 2 Amendments in the Regulatory Levies Amendment Act which ensure that annual titles administration levy is imposed for a year of the term of a title, even if the title does not remain in force for the full year, will commence either by Proclamation or on the day six months after the date of Royal Assent. Supporting amendments to the Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Regulations 2004 are currently being drafted to allow for a remittal or refund of levy, as appropriate, in the event that a title is not in force for a full year. Amendments in the Regulatory Levies Amendment Act, which take account of the ability for an applicant for certain titles to submit an environment plan for assessment by the Regulator, and impose environment plan levy on submission or revision of an environment plan where the activities to which the plan relates will be carried out under a petroleum scientific investigation consent or a greenhouse gas research consent, commenced on 18 July 2014.

2014 Offshore Greenhouse Gas Storage Acreage Release

Closing date Thursday 27 November 2014 The Australian Government recognises the potential contribution that carbon capture and storage (CCS) can make to lowering emissions in Australia and supports the global development of capture technology and storage capacity. On 29 August 2014, the Minister for Industry, the Hon Ian Macfarlane MP, gazetted acreage for applications for Greenhouse gas assessment permits. The 2014 Greenhouse Gas Storage Acreage Release will enable further exploration of prospective sites for potential storage formations. The Offshore Petroleum and Greenhouse Gas Storage Act 2006 (the Act) allows for the coexistence of petroleum and Greenhouse gas storage operations, subject to a range of safeguards and mechanisms under the Act to protect preexisting rights. The release comprises three areas in the Gippsland Basin, offshore Victoria available for work program bidding. Applications for greenhouse gas storage assessment permits are now invited from interested stakeholders. Detailed information on the 2014 Greenhouse Gas Storage Acreage Release including guidelines can be found online or by emailing [email protected].

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Postal Address: GPO Box 9839, CANBERRA ACT 2601, AUSTRALIA E-mail: [email protected] Website: www.petroleum-acreage.gov.au

www.petroleum-acreage.gov.au 3