This paper describes evolving energy resource regulation within Queensland, with emphasis on optimising the State's petroleum resources. Key elements of a proposed resource tenures management framework and reforms to geoscientific information reporting are discussed in the context of petroleum industry trends. A discussion on the role of the regulator provides context to these reforms.

Queensland is a world class resources province within a globally competitive market. The sector produces significant quantities of bauxite, coking coal, lead, silver, zinc and coal seam gas (CSG) and is vital to sustaining economic development and growing jobs within the State.

Queensland's petroleum tenures management framework continues to evolve, to meet industry and stakeholder needs. In September 2015, the Minister for Natural Resources and Mines released the government's Innovative resources tenures framework – Policy position paper. The paper identifies aspects of the current tenures framework which do not work effectively within a modern and globalised resources sector. An innovative and contemporary framework – designed to strike the right balance between resource development, environmental sustainability and investment attraction – is proposed.

Geoscientific data reported by petroleum tenure holders enhances knowledge of the State's resources and valuably informs pre-competitive resource assessment and exploration and development opportunities. Ongoing Department of Natural Resources and Mines (DNRM) reform aims to improve delivery of quality geoscience data to the sector while reducing regulatory reporting burden.

Finally, the paper highlights typical resource activity challenges and how these can be met through effective dialog between the tenure holder and DNRM. As in other areas of venture management, such a dialog can be used to address issues before they become critical.

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