Calculating petroleum royalty
New petroleum royalty regulation changes gas swap arrangements
The Petroleum and Gas (Royalty) Regulation 2021 applies from 1 September 2021.
Find out about the extended gas swap arrangements.
Petroleum is produced when it is released or recovered to ground level from a natural underground reservoir. Your petroleum royalty liability is based on the volume of liable petroleum produced in a return period.
The volume model is used for calculating petroleum royalty. Under this model, you need to determine:
- the total liable volume of petroleum produced during the period
- the classification (e.g. domestic gas, supply gas, project gas or liquid petroleum)
- the royalty rate that applies to each class of petroleum.
This guide explains the volume model, the rates used to calculate petroleum royalty, arrangements for non-tenure holders and the transitional arrangements for petroleum produced before October 2020.
- Last reviewed: 11 Jan 2023
- Last updated: 11 Jan 2023
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