Regulating carbon dioxide storage operations near oil and gas fields Australia'a approach  

Authors / CoAuthors

Walker, I. | Tantala, S. | Senanayake, W. | Leamon, G.

Abstract

In 2008, the Australian Parliament debated and passed the first national legislation to establish a title system of access and property rights for greenhouse gas (CO2) storage in offshore waters - the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (the Act). The Act provides for petroleum titles and greenhouse gas storage titles to coexist. To manage possible interactions between petroleum and CO2 storage operations, the Act introduced a test to determine whether activities under one title would pose a significant risk of a significant adverse impact (SROSAI test) on pre-existing rights and assets under the other title. Where petroleum and CO2 storage projects are proposed in the same area, the Act provides for commercial agreements between petroleum and CO2 storage proponents. It is only in the absence of any such commercial agreements that the regulator will have to decide whether an activity under one title would pose a significant risk of a significant adverse impact on the operations within the other title area. The SROSAI test is based on three core parameters: - the probability of the occurrence of an adverse impact; - the cost of the adverse impact on the project; and - the total resource value of the project. In estimating the cost of an adverse impact the regulator will take into consideration whether the adverse impact will result in: - any increase in capital or operating costs; - any reduction in rate of recovery of petroleum or rate of injection of CO2; - any reduction in the quantity of the petroleum to be recovered or CO2 stored. Safety and environmental impacts would be considered in estimating costs, only if those impacts would contribute to an increase in capital or operating costs, or reduction in petroleum recovery or CO2 injection. Etc

Product Type

nonGeographicDataset

eCat Id

73419

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Keywords

• External Publication

( Theme )

• geological storage of CO2

( Theme )

• risk analysis

( Theme )

• petroleum reserves

( Theme )

• resource management

Australian and New Zealand Standard Research Classification (ANZSRC)

• Earth Sciences

• Published_Internal

Publication Date

2012-02-09T00:00:00

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Australian Government Security ClassificationSystem    

Classification - unclassified

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Creative Commons Attribution 4.0 International Licence    

Access - restricted

Use - license

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Purpose

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unknown

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geoscientificInformation

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Unknown

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Spatial Resolution

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