The planned levy to cover decommissioning costs from the Northern Endeavour could be 48 cents per barrel equivalent, with an industry group slamming the price tag.
The federal government has approved measures designed to ensure taxpayers do not have to pick up the tab for decommissioning offshore oil and gas facilities.
GR Engineering has emerged from an ASX suspension today to disclose that its bottom line will likely be impacted by two major subsidiaries of its client Northern Oil & Gas Australia going into administration last month.
GR Engineering Services has been suspended from the ASX as the company continues to seek clarity after two major subsidiaries of its client Northern Oil & Gas Australia went into administration on Friday.
KPMG has been appointed as administrator to two subisdiaries of West Perth-based Northern Oil & Gas Australia, with contractor GR Engineering Services going into a trading halt as result of the action.
GR Engineering Services' oil and gas services business has won a second major contract in as many days, with Origin Energy signing the subsidiary on for a $50 million job.
GR Engineering Services has won a $90 million contract to operate and maintain a floating production storage and offloading facility in the Timor Sea for Northern Oil & Gas Australia.
