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Petroleum Amendment Bill 2009 for SA oil and gas longevity

The passage of the Petroleum (Miscellaneous) Amendment Bill 2009 in the South Australian Parliament provides greater certainty for investment in exploring and developing oil and gas projects in South Australia, according to the Australian Petroleum Production & Exploration Association (APPEA).

APPEA chief executive Belinda Robinson said that the legislation establishes an effective legislative regime for greenhouse gas storage for the onshore oil and gas industry in South Australia.

“This is important legislation because it enshrines the sovereign rights of pre-existing oil and gas title holders, thus providing business certainty for continued investment in one of Australia’s largest onshore oil producing provinces, the Cooper-Eromanga Basin,” she said.

“South Australia is recognised by our industry and by the Productivity Commission in their recent report, Review of Regulatory Burden on the Upstream Petroleum (Oil and Gas) Sector, as having Australia’s most efficient legislative framework as well as a best practice approvals process that provides a genuine ‘one stop shop’ to cut through red tape and prevent unnecessary delays.

“South Australia is the benchmark for constructive consultation processes, regulatory efficiency and policy action directed at maximising the ability of the oil and gas sector to deliver economic returns to the community, without compromising community and environmental standards.”

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