Action item 14.9
Progress
Complete.
Approved by decision makers.
Recommendation implemented.
That the Government considers whether a royalty payment scheme should be implemented to compensate Pastoral Lessees prior to any further production approvals being granted.
Target completion date
Completed
Reform area
Maximising regional benefits and local opportunities
Project action
Ensuring Territorians benefit from royalties
Lead agency
Department of Treasury and Finance
Action item update
Implementation
In January 2021, Northern Territory Government introduced statutory land access agreements and a minimum mandatory compensation scheme designed to compensate pastoral lessees for the drilling of a well and any decrease in the market value of land caused by petroleum activities.
Given the mechanisms already introduced, NT Government has decided not to introduce a royalty payment scheme for pastoralists.