Twelve of the World's largest oil and gas companies have committed $25.2 million towards an Australian industry program to deal with the potential for uncontrolled oil and gas leaks.
Woodside Petroleum is joined by Royal Dutch Shell, Apache, Chevron, BHP Billiton, ConocoPhillips, Eni, INPEX, Santos, ExxonMobil, PTTP, and BP. Each partner has committed $2.1 million to the new program.
The Australian Petroleum Production and Exploration Association (APPEA) will co-ordinate the program and the 12 companies will commit the funds over five years to ensure access to a sub-sea first response toolkit (SFRT).
The SFRT is designed to address the risk of any uncontrolled discharge from offshore sub-sea oil and gas wells.
The specialized equipment will be located in Australia and contracted through the industry-funded Australian Marine Oil Spill Center (AMOSC) for immediate mobilization if there is an sub-sea blow-out.
The SFRT contains all equipment needed to clean the area around the wellhead, enable intervention and prepare for relief well drilling and safe installation of a capping device.
All Australian offshore operators will be able to access the SFRT on an affordable basis.
Speaking at the launch of the program, APPEA chief executive David Byers said "The continued development of offshore oil and gas is essential for Australia's prosperity and energy security, but the industry must ensure we have access to the latest systems, technology and expertise to achieve the highest standards for our environment and safety performance."
Mr Byers said the Montara and Macondo offshore oil spill disasters, and subsequent inquiry recommendations, had highlighted the need for the international offshore petroleum exploration and production industry to create a capability for fast and effective response to uncontrolled hydrocarbons releases.