Session Information
13-Mar, 13:30 - 13:45
Navigating an oilfield minefield: managing the legal risks of decommissioning
Decommissioning Theatre
This presentation will explore some of the key regulatory landscape and associated legal risks faced by stakeholders in the Australian decommissioning sector. These include the nature and scope of the titleholder's primary responsibility, the implications of effecting the base case of total removal, and the problematic nature of deviations, the expansive scope of trailing liabilities and of "related person", the requisite financial assurance for the risk of marine oil pollution, and the operation of change of control provisions.
These measures are expected to positively influence the behaviour of stakeholders in a practical sense, to lead to greater awareness and to the promotion of standards that are suitable to Australian conditions, which differ from conditions encountered elsewhere. This can be achieved by active and ongoing engagement with stakeholders.
The presentation will also consider possible strategies for mitigation of risks in project execution, and the risk of disputes.
