The state-owned utility needs to replace the generation capacity it will lose by closing down all its coal-fired power stations over the next four years.
If Western Gas' Equus LNG project does not take off in these tough times neither the small company nor regulator NOPTA have an answer to how making safe the wells is paid for.
If Woodside's argument that a reef's environmental benefit outweighs 400 tonnes of plastic in the ocean wins over NOPSEMA then leaving everything on the seabed could become the default option for Australia's oil and gas players.
It will cost $76 billion to clean up after Australia's oil and gas industry, with a good chunk to be borne by taxpayers, and no one is in a hurry to start the work.
A debt of $165 million and unpaid employees can be added to a massive decommissioning liability as the cost of Northern Endeavour's short life after Woodside.
Offshore oil and gas operators that continually delay costly decommissioning will now be watched more closely by offshore safety and environment regulator NOPSEMA.
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.
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.
The liquidator of Northern Oil and Gas Australia has recommended liquidation, which will leave the Federal Government responsibility for decommissioning its oil vessel.
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.
