Helium drilling set to start after WA taxpayers shielded from cleanup costs
UK-listed Georgina Energy plans to drill in the remote Little Great Sandy Desert in search of helium, hydrogen and natural gas.
Since the mid-1960s, ExxonMobil has produced oil and gas offshore the coast of Gippsland, Victoria. The operation is 50 per cent owned by Woodside.
SGH's decade of neglect of its Longtom gas field off the Gippsland coast is "an erosion of good industry practice" according to NOPSEMA.
The idea is one of many around Australia that would delay the cost of decommissioning old infrastructure.
If Woodside absorbs BHP's oil & gas assets new laws ensure the massive decommissioning liability falls to one of the companies, not the Australian taxpayer, unlike the Northern Endeavour.
Buying BHP’s Australian oil and gas assets could allow Woodside to escape its lost decade, but its shareholders and Australian taxpayers should count their fingers after the handshake.
BHP's climate target excludes the Bass Strait, North West Shelf and future Scarborough LNG on the incorrect basis that the operator controls the emissions, not the joint owners.
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