Woodside sold the project to an insubstantial company to avoid a few hundred million in decommissioning costs: now it and its competitors will pay the price.
WA Premier Mark McGowan warned Alcoa to lift its game or face curtailed mining, but his successor Roger Cook slashed water supply protections after a possibly empty threat from the US miner.
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.
