The Actís objects are to facilitate the discovery and development of petroleum resources in NSW, in light of the need for sustainable development, in particular see s 2A:
(a) to acknowledge and foster the social and economic benefits that petroleum can provide, and
(b) to regulate titles for petroleum prospecting and mining, and†
(c) to compensate landholders for loss or damage resulting from such operations, and
(d) to ensure an appropriate return to the State from petroleum resources, and†
(e) to require the payment of security to rehabilitate sites damages or affected by such operations, and†
(f) to rehabilitate disturbed land and water, and
(g) to ensure petroleum resources are developed in ways that reduce environmental impact.