Date: 27 August 2015 7:47:35 am GMT+3
Subject: Regulatory Burden for Industry – Meeting with Minister
This morning Bill Tinapple and I met with Minister for Mines and Petroleum Bill Marmion and his Chief of staff Colin Edwardes.
The meeting and discussion focused on current hurdles to investment and unnecessary regulatory approval times and costs in the oil and gas space in the State of Western Australia and the detrimental effects this is now having on energy security, job creation, perception of sovereign risk and royalties. My focus was on small wins which can be implemented into the current regulatory framework to streamline various regulatory approvals for projects.
This would provide more certainty on project timing and therefore assist in attracting risk capital both from foreign investment and equity markets. Some of the themes in relation to regulatory burden overlapped with those that have been raised recently by Prospectors and Miners out of Kalgoorlie and other industries.
The meeting was very constructive and I look forward to providing any feedback that will result both from the meeting and the attached letter (Response Letter to Minister) which has been sent to the Minister’s office.