NOPTA’s fee and levy charges were last increased on 1 July 2016. A scheduled review of NOPTA’s CRIS was intended for 2020 but was postponed by 12 months due to the prevailing COVID-19 situation. Since this time NOPTA has managed costs internally to avoid increases to industry. While charging amounts have remained steady, NOPTA’s operational costs have continued to increase due to a range of factors in line with the consumer price index and contractual agreements.
On 2 September 2021, the Offshore Petroleum and Greenhouse Gas Storage Amendment (Titles Administration and Other Measures) Act 2021 (the Amendment Act) received Royal Assent with the new provisions expected to commence from 2 March 2022. The Amendment Act imposes new requirements on NOPTA, including a new application type relating to ‘change in control of a registered titleholder’.
To ensure that NOPTA can meet ongoing operational costs, NOPTA is proposing that the levies and fees (including greenhouse gas) be increased by 10% from 1 January 2022, to be reviewed in 12 months.
Consultation on the draft 2022 NOPTA CRIS closed on 8 October 2021.
