The new guideline provides further clarity and transparency in relation to the assessment of applications and the ranking of applications received through a competitive bidding Acreage Release.
The Petroleum Legislation Amendment Act 2024, once implemented, introduces significant changes to the existing legislative framework. New applicants will be able to apply for a Greenhouse Gas (GHG) Exploration Permit through an Acreage Release or GHG Special Prospecting Authority pathway. Existing petroleum titleholders will be able to add a regulated substance (e.g. hydrogen) to an existing title or apply for a new petroleum title with rights extending to a regulated substance. A further public consultation on the guide note will be released, incorporating the considerations for GHG titles and regulated substances.
Print this page
