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StumbleuponAustralia's energy ministry clarified its position on Monday and said it was not reviewing BHP Billiton Ltd's petroleum retention lease for the Macedon gas field off Western Australia.
"The minister was referring to the regulatory issues which BHP was facing with the state government. The issues have nothing to do with BHP's retention lease for the Macedon field," said Michael Bradley, a spokesman for the Minister of Resources and Energy. Martin Ferguson, Minister of Resources and Energy, said on Thursday his ministry was reviewing the country's petroleum leases and planned to strip companies of their leases should they not develop a field which the government had found to be commercially viable. [ID:nSYD233822]
When asked if there were specific fields which the government was eyeing, Ferguson had said his ministry had been asking BHP to develop its Macedon gas field. (Reporting by Fayen Wong; Editing by Ben Tan)
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