Offshore Petroleum (Laminaria and Corallina Decommissioning Cost Recovery Levy) 2021

# Offshore Petroleum Decommissioning Levy Bill 2021 ## What it does The government is charging oil and gas companies a fee to pay for cleaning up two old offshore oil fields (Laminaria and Corallina) in Australian waters. The levy targets companies holding petroleum production licenses and will recover the costs the government has already spent on decommissioning work. ## Why it matters Oil and gas extraction leaves behind expensive infrastructure that needs to be safely removed and disposed of. Rather than Australian taxpayers footing the bill, this law makes the companies responsible for recouping those costs—similar to a "polluter pays" principle. ## Key details - **Who pays:** Companies registered as holders of petroleum production licences in the affected areas - **When it started:** The day after the bill received Royal Assent (it passed both chambers) - **How much:** The specific levy amount is determined annually based on the government's actual unrecovered decommissioning costs, set out in regulations rather than fixed in the law itself

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