Law change brings new decommissioning obligations and added enforcement

The main focus of the Act is to strengthen the legal and financial requirements for permit and licence holders in relation to decommissioning of petroleum infrastructure and wells.

A summary of the main changes affecting the petroleum sector can be found on the NZP&M website:

Crown Minerals Amendment Act passes - what it means for the petroleum industry(external link)- NZP&M

The Act also makes changes that apply to both the petroleum and minerals sectors - most notable being the introduction of new enforcement tools.

A summary of how the Act relates to the minerals sector can also be found on the NZP&M website:

Crown Minerals Amendment Act passes - what it means for the minerals industry(external link)- NZP&M

The regulator, NZP&M, is working to operationalise these new requirements. Updates about how the requirements will be implemented will be given in the newsletter The Regulator's Update, on their website and by direct email.

The Regulator's Update(external link)- NZP&M

Subscribe to The Regulator's Update(external link)- NZP&M

More information

Read the Minister's press release(external link)- The Beehive website

Read the Amendment Act(external link)- Legislation New Zealand