Decommissioning
Big taxpayer bills for failed Northern Endeavour start
The first bill of $10 million bill is due for the failed Northern Endeavour as it is revealed that Woodside's sale of the vessel four years ago required no government approval.
Oil and gas producers are required to plug and abandon wells and remove equipment when production ends.
Decommissioning
The first bill of $10 million bill is due for the failed Northern Endeavour as it is revealed that Woodside's sale of the vessel four years ago required no government approval.
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If the Federal Government had been alert the financial failure of the Northern Endeavourur would not have been a surprise. Now Canberra has a huge bill for its omission.
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The liquidator of Northern Oil and Gas Australia has recommended liquidation, which will leave the Federal Government responsibility for decommissioning its oil vessel.
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The owner of an oil vessel in the Timor Sea falling into liquidation may make the Federal Government very cautious about who ExxonMobil can sell its Bass Strait assets to.