Longer leases would lock up Aussie offshore
Seismic survey work for Woodside. The company has renewed its Browse leases until 2020. (Woodside)
Australia is considering significantly extending the period of time in which titleholders of offshore oil and gas fields can decide whether to bring them into production.
Critics say the move – which runs counter to the approach taken in countries such as the United States – would enable titleholders to reap the benefits of having the fields listed in their asset bases but would lock out third parties from developing the resources.