Page 1 of 6
Revision Date: December 2018
Regulaon 5G of the Oshore Petroleum and Greenhouse Gas Storage (Environment) Regulaons 2009
provides that NOPSEMA must be reasonably sased that a tleholder is compliant with secon 571(2)
of the Oshore Petroleum and Greenhouse Gas Storage Act 2006 prior to accepng an environment plan
(EP) or revised EP.
In accordance with NOPSEMA’s Financial Assurance for Petroleum Titles Guideline (the Guideline)
(N-04730-GL1381), titleholders must provide declarations of compliance with section 571(2) to
NOPSEMA for all petroleum tles on which petroleum acvies are to be undertaken. A Financial
Assurance Declaraon relates to the tles for which the declaraon is made and may be applicable
to mulple acvies and mulple EP submissions for those tles.
A Financial Assurance Declaration can be made to NOPSEMA at any time. A Financial Assurance
Confirmation (N-04730-FM1465) must also be provided by the titleholder undertaking the activity prior
to acceptance of an EP.
Further advice on meeng nancial assurance requirements is provided in the Guideline available on
This declaraon must be signed by individuals who;
• are the registered holder of the tles to which the declaraon relates; or
• are acng with the registered tleholder’s express or implied authority and on behalf of the
• are acng with power of aorney on behalf of the tleholder.
On receipt of a Financial Assurance Declaraon that contains all of the requisite informaon,
NOPSEMA will provide a nocaon of receipt.
Where a Financial Assurance Declaraon is not provided in a form acceptable to NOPSEMA, the
tleholder(s) will be advised and requested to provide a further declaraon.
Where a tleholder is unable to provide a Financial Assurance Declaraon to NOPSEMA it is
recommended that the tleholder contact NOPSEMA’s Environment Division as soon as praccable.
Failure to provide a Financial Assurance Declaraon will
prevent NOPSEMA from accepng an EP.
Supplying false or misleading informaon to a Commonwealth Enty is an oence under the
Criminal Code Act 1995 and providing such false informaon may render NOPSEMA’s decisions
in accepng EPs which rely on a Financial Assurance Declaraon as invalid.
This is a NOPSEMA process requirement and is not a legislave requirement under the OPGGS Act.