The Australian Government has been advised that the Northern Oil and Gas Australia (NOGA) group of companies has been placed into liquidation.
Minister for Resources, Water and Northern Australia Keith Pitt said this is an unprecedented event in the offshore oil and gas industry in Australia.
“It is regrettable that a commercial solution could not be found to prevent NOGA entering liquidation, but the Government will do everything it needs to do to protect the safety and security of the Northern Endeavour production vessel to protect the environment and keep workers safe,” Minister Pitt said.
Safety risks are ‘low’
The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has advised that as the Northern Endeavour is not currently in production, the risks associated with safety and the environment are low.
Immediate cooperation across various Australian Government agencies is taking place to ensure ongoing security of the facility.
The Australian Government is establishing a taskforce across government and with industry to consider options to deliver a long term solution for the Northern Endeavour and the Laminaria-Corallina fields in the safest and most cost efficient manner, and limit any costs to Australian taxpayers as a result of the NOGA liquidation.
As a priority the Australian Government is working to return an operator to the Northern Endeavour to maintain it in its current state.
“I am continuing to receive regular updates of the situation and will provide a further statement in coming days,” Minister Pitt said.