THE Northern Territory Parliament will be introducing a new legislation to remove the inconsistency between licensing conditions on mineral exploration and oil and gas exploration.
According to ABC News, the Petroleum Act restricts oil companies from renewing their exploration licenses while mining companies are able to apply for extensions.
The Northern Territory government will introduce the amendments next year in response to a number of oil companies who have voiced their opinions about the restriction.
"The Government will look to actually bring those to act in entirety, so what applies in the Mining Act will apply to the Petroleum Act," Minister for Resources, Kon Vatskalis told ABC News.
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