Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) An object of Parts 2 to 4 and 6 to 13 of these Regulations is to ensure that operations in an offshore area are:
(a) carried out in accordance with good oilfield practice; and
(b) compatible with the optimum long - term recovery of petroleum.
(2) An object of Parts 2 to 4 and 6 to 13 of these Regulations is to ensure that the administrators of the Act are informed, in a timely and consistent manner, of:
(a) exploration for petroleum and greenhouse gas storage formations; and
(b) the discovery of petroleum and potential storage formations; and
(c) the appraisal of discoveries; and
(d) development and production operations in relation to petroleum, and injection operations in relation to greenhouse gas substances; and
(e) the results of operations.
(3) The other objects of Parts 2 to 4 and 6 to 13 of these Regulations are:
(a) to provide a framework for encouraging the adequate collection, retention and timely dissemination of petroleum and greenhouse gas data; and
(b) to assist in ensuring the adequacy of the data acquired; and
(c) to allow for the efficient management of data confidentiality and the disclosure of data on completion of the relevant confidentiality periods.