Tagged

Northern Endeavour

Northern Oil and Gas Australia bought the Northern Endeavour floating oil production vessel in the Timor Sea from Woodside in 2016 and went into liquidation in early 2020.

Decommissioning

BHP and Woodside deal will not escape tougher decommissioning laws

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.

Decommissioning

Government hurries to tow Northern Endeavor away by mid-2023

The Federal Government is seeking a contractor to move the troubled Northern Endeavour oil vessel but first it has to be made safe for towing.

Decommissioning

Oil and gas producers to start paying up to $1B to decommission the Northern Endeavour

Australia's oil and gas industry has lost the fight not to bear the full cost of cleaning up after an oil vessel in the Timor Sea with a bankrupt owner.

Decommissioning

Offshore oil & gas producers to pay for $1B Northern Endeavour cleanup

For every dollar Woodside saved in 2015 selling the Northern Endeavour, the oil and gas industry may have to pay back threefold after the Federal Government moved to protect ordinary taxpayers from the cost of decommissioning the vessel and oil field.

Decommissioning

Regulator calls time on delays to $52B offshore oil and gas decommissioning

Regulator NOPSEMA has wrested control of the schedule for cleaning up Australia's offshore oil and gas fields from tight-fisted operators in a move that may result in an offshore jobs boom later this decade.

Safety

Behind closed doors: what worries Australia’s offshore safety regulator NOPSEMA

While Australia's offshore oil and gas industry grew safety regulator NOPSEMA was troubled by cost-cutting operators, old wells to clean up and dealing with COVID-19.

Decommissioning

Australia told ExxonMobil CEO 'no easy exit' before $3B Bass Strait sale canned

Resources Minister Keith Pitt warned ExxonMobil ceo Darren Woods he would tighten rules for selling offshore oil and gas assets and shortly after the US major canned its Bass Strait exit.

Decommissioning

Northern Endeavour debacle hits $209M with much more to come

The Government will spend $130 million to look after the Northern Endeavour in 2021 and has the oil and gas industry in its sights for the total bill of more than half a billion dollars.

Decommissioning

Government fights in court for Northern Endeavour oil vessel

The Northern Endeavour saga gets murkier: court battles, Cabinet confidentiality, unspecified environmental problems and maybe a hefty bill for big oil and gas.

Decommissioning

Oil & gas to get Northern Endeavour bill and trailing liabilities: Pitt

Resources Minister Keith Pitt plans to stop big oil companies passing on decommissioning liabilities and make them contribute to the Northern Endeavour decommissioning bill.

Decommissioning

Northern Endeavour a “major screw up” by Government: Patrick

The Government has 'screwed up' with the Northern Endeavour oil vessel says Sen. Rex Patrick and the loophole that might cost $370 million remains five years after it was spotted.

Decommissioning

Govt spends $10M to look after Northern Endeavour for an extra month

The burden on taxpayers from the failed Northern Endeavour vessel continues to grow - $10M in one month - while the Government decides what to do next.

Decommissioning

Federal Govt regulates poorly and gets $360M Northern Endeavor clean-up bill

The Northern Endeavor mess started with Woodside paying to rid itself of a rusty ageing asset, ended with a $362 million liability for the Government and in between was a regulatory shambles.

Decommissioning

Federal Govt paying top-dollar $1.5M a week for failed oil project

Northern Endeavour operator UPS and original owner Woodside are the two biggest recipients of Government spend on the failed oil vessel.

Decommissioning

Sellers of oil and gas assets should stay liable for cleanup: report

North Sea expert recommends changes to stop a repeat of Woodside escaping a $360 million cleanup bill by paying a tiny inexperienced company to take an old rusty asset.

Decommissioning

Northern Endeavour still waiting on Federal Government plan

While the idle Northern Endeavour costs $4 million a month, Government and industry are still talking about how to keep the clean-up bill below a possible $230 million.

Exclusive Investigation

Western Gas, an ineffective regulator and a $US100M clean-up bill

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.

Oil

Failed oiler Northern Endeavour owes $165M

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.

Decommissioning

Tougher policing of offshore oil and gas decommissioning

Offshore oil and gas operators that continually delay costly decommissioning will now be watched more closely by offshore safety and environment regulator NOPSEMA.

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.

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Government asleep as offshore failure developed

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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Northern Endeavour headed for liquidation, govt on the hook

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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Offshore oil & gas sell-off puts focus back on decommissioning policy

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.

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Cutbacks and haste spell danger on Northern Endeavour

Maintenance cutbacks and pressure to resume production made the Northern Endeavour oil vessel a dangerous place to work.