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  • Decommissioning Costs – Laminaria-Corallina oil fields and associated infrastructure

    On 11 May 2021, the Government announced that it will impose a temporary levy on offshore petroleum production to recover costs of decommissioning the Laminaria-Corallina oil fields and associated infrastructure. This will ensure taxpayers are not left to pay for the decommissioning and remediation.

    The Australian Government has committed to decommission the Northern Endeavour floating production storage and offtake (FPSO) facility and remediate the associated Laminaria-Corallina oil fields since December 2020.

    The decommission will take several years and to avoid possible catastrophic environmental damage, the Government will provide funding over three years from 2020-21 but the true cost remains unclear.

    The levy will terminate on 30 June of the year in which all costs associated with the decommissioning have been recovered.

    Further information will be announced following a consultation period with industry.

    Legislation and supporting material

      Last modified: 04 Jun 2021QC 65830