The federal government will spend up to $325 million on the next step to decommission the failed Northern Endeavour oil vessel, but under legislation passed last week, the offshore oil and gas industry will foot the entire bill.
The federal government has been responsible for the vessel moored in the Timor Sea 550 kilometres from Darwin since early 2020 when its owner Northern Oil and Gas Australia went into liquidation.
News article by Peter Milne on 4 April 2022 from smh.com.au
For further reading, please visit smh.com.au >> Bill to decommission failed Timor Sea oil vessel tops $600m