Liability risk in Oz spotlight

摘要

A review into the circumstances that left the Australian government in charge of an ageing floating production, storage and offloading vessel has called for changes to legislation to ensure it does not happen again. Australian taxpayers have been left with the bill for ensuring the Northern Endeavour FPSO in the Timor Sea is safe and secure after previous operator Northern Oil & Gas Australia (Noga) went into administration. The government appointed Steve Walker, an industry veteran with nearly 40 years of offshore regulation and industry experience, to carry out a review into the events that led up to the unprecedented situation and make recommendations to ensure such an event does not occur again. In his report, Walker found that Noga's financing, limited experience and reliance on a single asset as its only income source presented challenges that led to the current situation.