MORE FIG NEWS16 Jul 2024 19:35
All,
From the most recent Legislative Assembly on the 27th June.
"Minerals
Oil & gas
A three-day workshop was held with Navitas in May, which covered a number of fiscal areas.
A range of action is ongoing to reach agreement on these areas. Navitas submitted their Environmental Impact Statement(EIS) for public consultation, which will start on 24 June and run until 5 August. Navitas are responsible for much of the publicity around the consultation and will be holding workshops in Stanley and Camp. Director Mineral
Resources will be managing the collection of responses between all parties, and will work to ensure all key stakeholder groups are invited to participate. The Field Development Plan (FDP) is in a final draft form. It will come to EXCO for approval following the EIS consultation in the latter part of this year. Work is ongoing to develop the new offshore health, safety and environment legislation, which will be combined into a single ordinance. A second draft of the new ordinance produced by the Legal team is currently with the Minerals’ team for review. After the ordinance is finalised, the
next stage is to produce the associated regulations and guidance, which will spell out in more detail how the ordinance is implemented. In addition, the Offshore Minerals Ordinance 1994 this will need to be edited to remove any parts which will be covered by the new ordinance. A policy on the financial security required from oil and gas developers for decommissioning is being drafted and is expected to be ready in July. When the Offshore Minerals Ordinance 1994
is amended, the agreed rules around decommissioning finance will be added into it.
https://assembly.fig.gov.fk/jdownloads/Assembly%20Records%20and%20Order%20Papers/Legislative%20Assembly%20Records/2024/6.%20Legislative%20Assembly%20Record%2027%20June%202024.pdf
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