Australia Oil and Gas Report - Business Monitor International - Industry Reports

Australia Oil and Gas Report

Australia Oil and Gas Report - Business Monitor International - Industry Reports
Australia Oil and Gas Report
Published Sep 24, 2016
90 pages — Published Sep 24, 2016
Price US$ 1,295.00  |  Buy this Report Now

About This Report

  
Abstract:

On August -- ----, Australia launched the ---- Offshore Petroleum Exploration Acreage Release, containing -- release areas across five different basins (Bonaparte, Browse, Offshore Canning, Roebuck and the Northern Carnarvon basins) in Western Australia. Deadline to submit bids for round one work programs is December - ----. ...Deadline to submit bids for round one work programs is December - ----. Amid lingering environmental concerns over its intended drilling plans in the Bight basin, supermajor BP has reduced the number of wells it will drill in the basin to two (from four) in the firm s revised environment plan submitted to NOPSEMA for review. In August ----, Beach Energy completed drilling the Callawonga--- well in the Cooper basin, hitting a gross oil column of --m. ...In August ----, Beach Energy completed drilling the Callawonga--- well in the Cooper basin, hitting a gross oil column of --m. In August ----, federal and state ministers reached an agreement to implement substantial gas sector reforms, including the establishment of transparent gas trading hubs in the North and South, as well as better access to gas transportation infrastructure, in light of rising prices of domestic gas supplies for local consumers and lack of adequate gas distribution networks nationwide.

...Further upside risk to our forecasts could also come from greater development of Australia s sizable coal- bed methane (CBM, also referred to as coal-seam gas in Australia) potential. At the start of ----, the country s identified, potential and undiscovered CBM resources were estimated at around -.-tcm, by Geoscience Australia and the DIIS, with most of these resources concentrated in the Surat and Bowen basins in the eastern region. ...Further upside risk to our forecasts could also come from greater development of Australia s sizable coal- bed methane (CBM, also referred to as coal-seam gas in Australia) potential. At the start of ----, the country s identified, potential and undiscovered CBM resources were estimated at around -.-tcm, by Geoscience Australia and the DIIS, with most of these resources concentrated in the Surat and Bowen basins in the eastern region. That said, the current low oil price environment has led firms to delay or even disengage from CBM plays as they seek to cut capital expenditure. According to figures from the Australian Petroleum Production & Exploration Association (APPEA), the number of new CBM exploration wells drilled has declined sharply in recent quarters, from a peak of -- wells in Q--- to just -- in Q---. Furthermore, CBM developments in Australia are challenged by stringent local regulations amid growing public concerns about the harmful environmental impacts of large-scale CBM drilling on local water supply

...We forecast Australia s proven hydrocarbon reserves to remain on a firm downtrend over ---------, as major producers pare back upstream spending amid lower oil prices and natural declines at existing fields outstrip the rate of reserves additions. Despite relatively active exploration in its exploration blocks, particularly offshore Western Australia (Cooper, Carnarvon and Browse basins) and onshore Canning and Georgina basins, the rate at which these plays translate to commercial production will be limited as low oil prices and high exploration & development costs dissuade large-scale investment in the Australian upstream segment. ...

  
Source:
Document ID
1748-3816
Country
Industry
Format:
PDF Adobe Acrobat
Buy Now

Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

About the Author


Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "Australia Oil and Gas Report" Sep 24, 2016. Alacra Store. Dec 11, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Australia-Oil-and-Gas-Report-2026-92>
  
APA:
Business Monitor International - Industry Reports. (2016). Australia Oil and Gas Report Sep 24, 2016. New York, NY: Alacra Store. Retrieved Dec 11, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Australia-Oil-and-Gas-Report-2026-92>
  
US$ 1,295.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Market Research from one place.