Treasurer Joe Hockey recently made comments indicating the Foreign Investment Review Board would be increasing its focus on tax consequences when making decisions about foreign investment.

Such a focus is particularly relevant to the oil and gas sector because of the highly capital intensive nature of developing projects.

With oil and gas explorers and emerging developers, together with those that service these sectors, increasingly looking offshore for new opportunities and market returns it will be important to receive clarity surrounding the increased focus and the weight to be given to such considerations.