

Royalty Disputes Referred to Arbitration Under the IAA
This proceeding concerned whether disputes relating to royalty calculations, specifically depreciation and decommissioning (D&D) costs, arising under a long-standing royalty arrangement for hydrocarbons extracted from Bass Strait were required to be resolved through arbitration, rather than by a court. Oil Basins Limited (OBL) holds a 2.5 per cent overriding royalty on hydrocarbon production within a defined Bass Strait area. The royalty is governed by a Royalty Agreement exe
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