AER Publishes 2022 Closure Quota Highlights Report
The AER can undertake compliance assurance activities against licensees who remain noncompliant with their mandatory closure spend quota.
- The AER can undertake compliance assurance activities against licensees who remain noncompliant with their mandatory closure spend quota.
- While industry can report on closure spend for wells, facilities, and pipelines, closure spend is still primarily focused on wells (88% of spend).
- Compliance with the mandatory closure spend quota is achieved in three ways:
• Licensees spent sufficient money to meet or exceed their mandatory closure spend quota. - • Licensees provided security for the difference between their mandatory closure spend quota and their closure spend reported.