Australia has announced plans to hit its offshore industry with a levy to cover the $200m cost of decommissioning an abandoned project off the countrys northern coast.
The facility, known as Northern Endeavor, consists of a floating production, storage, and offloading vessel that had been permanently moored in the Timor Sea. The project was shut down in 2019 by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA), which found an immediate threat to health and safety at the facility due to structural corrosion.
The owners, Northern Oil & Gas Australia (NOGA), have since entered voluntary administration, leaving the 170,000 barrels-per-day facility abandoned for the last two years, and forcing the nation…
Read the full article at: https://www.offshore-technology.com/news/australia-hits-offshore-industry-with-levy-to-cover-200m-decommissioning-costs/
