The Pitts: Government gifts Woodside $130 million Christmas present

In 2015, Woodside sold its ageing oil platform Northern Endeavour to a small company named NOGA. The deal was structured via a buyout of shares of the controlling company, Timor Sea Oil and Gas Australia.

At that time, NOGA had no experience in offshore oil and gas extraction, or operating a floating production storage and offloading (FPSO) for that matter.

Woodside’s sale to NOGA involved a loophole in the National Offshore Petroleum Titles Administrator (NOPTA) rules which cover tenement sales – as was reported by Michael West Media in November.

Woodside leaves oil rig for taxpayers to clean up; is Exxon next in the Bass Strait?

After a series of failed safety inspections, the facility was ordered to cease production by the…