Bernie Ripoll (Oxley, Australian Labor Party) Share this | Hansard source

The Offshore Petroleum and Greenhouse Gas Storage Amendment (National Regulator) Bill 2011, the Offshore Petroleum and Greenhouse Gas Storage Regulatory Levies Legislation Amendment (2011 Measures No. 2) Bill 2011, the Offshore Petroleum and Greenhouse Gas Storage (Registration Fees) Amendment Bill 2011, the Offshore Petroleum (Royalty) Amendment Bill 2011, and the Offshore Resources Legislation Amendment (Personal Property Securities) Bill 2011 do a number of things. They amend the Offshore Petroleum and Green­house Gas Storage Act 2006. They also establish a single national regulator for offshore safety, well integrity and environmental approvals and a national titles administrator for offshore petroleum mining and greenhouse gas storage activities—all important in maintaining environmental protection, the way we manage our natural resources, our oceans, our seabeds, our rare and unique corals and the fish in our oceans.

These models reflect the recommend­ations of the 2009 Productivity Commission review and also the Montara Commission of Inquiry's recommendations, as well as 18 months of consultation with industry, states and the Northern Territory. This compre­hensive process has enabled the government to provide certainty in these areas and the necessary frameworks and legislative models for environmental protection in the day-to-day integrated operation of all concerned. The functions of the existing National Offshore Petroleum Safety Authority are to be increased to complement their expanded responsibility for oil integrity regulation, legislation for which this parliament passed last year. In all, it is a comprehensive set of bills and I commend them to the House.

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