Conclusion
While many of the changes currently proposed by the Draft FP Regulations are likely to be welcomed by the mining and petroleum industries, significant work will need to be done to ensure compliance by the 19 February 2019 deadline, except for holders of offshore oil and gas production rights.
The public comment period closes on 10 December 2017. We urge the mining and petroleum industries to submit comments before the Draft FP Regulations are finalised. Don't wait to have to challenge the rules of closure in the courts.