11 September ARELJ - Recent Development - Principles for Exploration and Extraction Rights September 11, 2020 By Sally Parker ARELJ, Environment, General, Mining, Oil and Gas ARELJ, Exploration, Extraction, SustainableDevelopment 0 John Southalan Barrister (WA Bar Association), Adjunct Professor (UWA & Murdoch) In February 2020 the OECD endorsed a framework, aimed at governments and investors, for the content and negotiation of extractives exploration and production contracts. The principles are expressed as relevant to all systems of granting petroleum and mineral exploration and production rights – whether by contractual regimes or legal systems of non-negotiable provisions. The purposes of the principles include promoting long-term sustainable development, while attracting and sustaining investment; providing mechanisms for changes in circumstances; and ensuring “a fair share for all parties to the contract and optimise the value from resource development through equitable, sustainable and mutually beneficial contracts and operations”. These principles should inform advice and analysis by Australian resources practitioners: of matters in Australia and regarding the involvement of Australian entities in other countries. Member Login Required to Access Case Note Read More Related Articles ARELJ Recent Development- Transitioning Section 18 Aboriginal Heritage Act 1972 Consents Under the Aboriginal Cultural Heritage Act 2021 of Western Australia ARELJ Recent Development - Industrial Manslaughter in the Queensland Resources Sector ARELJ Case Note - Implications of New Provisions in the Human Rights Act Following Waratah Coal Decision ARELJ Case Note - Guidance on the principles that apply to a decision of the Warden under S 122E of the Mining Act 1978 (WA) in respect of the removal of a caveat Richore Pty Ltd v Cougar Metals NL [2020] WAWC 1 Submission - DISER Consultation Paper December 2020 ‘Enhancing Australia’s decommissioning framework for offshore oil and gas activities’ New developments in the hydrogen industry We can expect significant legislative reform for the hydrogen industry in the near future. This follows a review of all Australian laws (both Federal and State) in 2019 that found there were approximately 730 pieces of legislation and 119 standards related to the industry and recent developments that are seeking to develop the industry further. Showing 0 Comment Comments are closed.