❓ Hon Alison Xamon questions the Minister for Mines and Petroleum regarding a significant increase in projected revenue from petroleum permits and licences, specifically inquiring about the drivers behind the increase and expectations for production licences, including those for unconventional gas. The Minister's response details the factors contributing to the revenue increase and provides cautious estimates regarding future production licences.
AnsweredQoN 5718Legislative Council
QuestionView source ↗
I refer to the proceeds from petroleum permits and licences nearly doubling from 2011-12 actual to 2012-13 budget as detailed on page 177 of the 2012-13 State Budget papers, and I ask —
(1) Will the Minister please explain the expected increase in terms of —
(a) permit numbers; and
(b) increased fees?
(2) What is the Minister's expectation regarding how many of these will be production licences?
(3) Does the Minister have an expectation that any of these licenses will be production licences for unconventional gas?
(1) Will the Minister please explain the expected increase in terms of —
(a) permit numbers; and
(b) increased fees?
(2) What is the Minister's expectation regarding how many of these will be production licences?
(3) Does the Minister have an expectation that any of these licenses will be production licences for unconventional gas?
AnswerView source ↗
Answered
14 August 2012
Responded by
Minister for Mines and Petroleum
Response time
62 days
(1)
(a) It is estimated that there will only be a small increase in the number of permits in 2012/13.
(b) The 2012/13 budget estimate includes an increase in all State Petroleum permits and licences of 14 per cent. The additional revenue is principally attributed to increased costs associated with the introduction of an Attraction and Retention Incentive.
It should be noted that the reduction in the estimated actual proceeds from petroleum permits and licences for 2011/12 was a consequence of the loss of Commonwealth Petroleum revenue associated with the implementation of the National Offshore Petroleum Regulatory reforms introduced by the Commonwealth on 1 January 2012. These reforms have resulted in the transfer of a number of petroleum regulatory functions between the State (Department of Mines and Petroleum) and the new national bodies regarding issuance of titles and approvals for safety and environment.
The budget estimate for 2012/13 and forward estimates remain unadjusted as the full impact of the Commonwealth - State arrangements are still to be worked through.
(2) It is difficult to predict how many discoveries will prove to be commercially viable.
(3) It is unlikely that the Department of Mines and Petroleum will be granting production licences for unconventional gas in the 2012/13 financial year.
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(a) It is estimated that there will only be a small increase in the number of permits in 2012/13.
(b) The 2012/13 budget estimate includes an increase in all State Petroleum permits and licences of 14 per cent. The additional revenue is principally attributed to increased costs associated with the introduction of an Attraction and Retention Incentive.
It should be noted that the reduction in the estimated actual proceeds from petroleum permits and licences for 2011/12 was a consequence of the loss of Commonwealth Petroleum revenue associated with the implementation of the National Offshore Petroleum Regulatory reforms introduced by the Commonwealth on 1 January 2012. These reforms have resulted in the transfer of a number of petroleum regulatory functions between the State (Department of Mines and Petroleum) and the new national bodies regarding issuance of titles and approvals for safety and environment.
The budget estimate for 2012/13 and forward estimates remain unadjusted as the full impact of the Commonwealth - State arrangements are still to be worked through.
(2) It is difficult to predict how many discoveries will prove to be commercially viable.
(3) It is unlikely that the Department of Mines and Petroleum will be granting production licences for unconventional gas in the 2012/13 financial year.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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