The state government is set to pass extraordinary laws to strip corrupt former Labor minister Eddie Obeid and his family of at least $30 million in profits from a coal deal at the centre of a historic corruption probe.

A day after Premier Barry O'Farrell announced the government would pass special laws to tear up three corruption-tainted coal exploration licences, Mr O'Farrell said it was also working on laws to confiscate the proceeds of corrupt activity by former Labor figures and businessmen.

Eddie Obeid. Credit:Dallas Kilponen

He said on Tuesday the laws to cancel the licences would be introduced in state Parliament next week, while additional laws to claw back proceeds of corrupt coal ventures from Mr Obeid and others were still

in development.

"I'm told that it will take a little bit longer," Mr O'Farrell said.