Offshore keys activity for Australia's majors
Australia's upstream industry is in a prime position to explore and develop a number of promising prospects if this year's mid-east situation results in a permanently higher oil price structure. The vast majority of these prospects are offshore, particularly of the Bass Strait, the country's leading productive area. Dominating the upstream sector are two major operators, along with several other firms. It has been the conscious decision by these companies to concentrate their efforts offshore where they believe the best chances remain for large finds. In light of the substantial costs in drilling the frontier areas, however, two constraints have been hampering those efforts the last several years until recently. One problem had been low oil prices, while the other was a tax regime that was penalizing revenue from older existing offshore production.
- OSTI ID:
- 5500796
- Journal Information:
- World Oil; (USA), Journal Name: World Oil; (USA) Vol. 211:6; ISSN 0043-8790; ISSN WOOIA
- Country of Publication:
- United States
- Language:
- English
Similar Records
Offshore successes raise Far East/Oceania potential
Australia/Pacific: Industry watchers expect the worst
Related Subjects
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
AUSTRALASIA
AUSTRALIA
DEVELOPED COUNTRIES
ENERGY POLICY
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
MINERAL RESOURCES
OFFSHORE SITES
PETROLEUM DEPOSITS
RESOURCE ASSESSMENT
RESOURCE DEVELOPMENT
RESOURCES