Takes centre stage at London summit
|Date:||Thursday, 12 February 2015|
DMP’s expertise in oil and gas licensing took centre stage at last month’s Oil and Gas International Summit 2015 in London.
The Department of Mines and Petroleum’s (DMP) expertise in oil and gas licensing took centre stage at last month’s Oil and Gas International Summit 2015 in London.
“WA is internationally recognised as having a best practice oil and gas licensing system. This is because it is a mature system with transparent regulatory and governance processes,” said Western Australian Government Trade and Investment Manager Richard Riordan.
“It is also because the quality and scope of the data provided as part of DMP’s acreage release rounds is extensive, modern and meets industry expectations.”
At the summit Mr Riordan delivered a joint presentation entitled ‘Western Australia Licensing Oil and Gas Titles’ developed with DMP’s Petroleum Division Petroleum Exploration Geologist Richard Bruce, who is responsible for managing and promoting petroleum acreage releases for WA’s onshore and State Waters areas.
Mr Riordan said licensing formed the foundation of the oil and gas industry.
“Licensing rounds allow companies and joint ventures across the world to search for commercially feasible deposits for extracting petroleum,” he said.
“The procedures through which each sovereign country distributes licenses can vary greatly from country to country. The State or Government carefully selects the licensing system that aligns with the social, geographical, and political need of that country.
“The need to create an efficient system to attract investment and build a strong oil and gas industry within a country is crucial given the vital role that oil and gas plays at a national and global level.”
Mr Riordan said in the shadow of the recent decline in oil and gas prices, a number of the summit presentations recognised the need for countries to design efficient licensing systems to attract investment, which in turn encouraged the development of a strong oil and gas industrial sector within their overall economies.
“There are a number of countries keen to learn from Western Australia. They wish to harness our substantial expertise and experience in administering oil and gas titles, information, royalties, legal governance and regulatory structure. This is a strategic opportunity to promote and develop Western Australia’s international relationships.
“Facilitating the spread of transparent systems promotes a level playing field for the future release of WA acreage,” he said.
State Government representatives also used the summit to promote the 18th International Conference and Exhibition on Liquefied Natural Gas (LNG 18) which will be held in Perth on 11 – 15 April 2016.
The call for papers for LNG18 is open until 20 April 2015. For further information please click here.