The performance of the Oil and Gas Extraction industry is affected by fluctuations in oil and gas prices, exchange rate movements, domestic demand for oil and gas, and annual production volumes. Over the five years through 2015-16, the industry has expanded as domestic output increased and world oil and natural gas prices remained high in Australian dollars from 2011 through 2014. In the five years through 2015-16, industry output, as measured by barrels of oil equivalent (BOE), is expected to increase at a compound annual rate of 2.0%. Furthermore, industry revenue is projected to grow at a compound annual rate of 3.4% over the five years through 2015-16, to reach $41.1 billion.
Firms in the industry are mainly engaged in the production of crude oil, natural gas or condensate through the extraction of oil and gas deposits. These companies may also treat natural gas to produce purified natural gas or liquefied hydrocarbon gases, or operate natural gas absorption or separation plants. Some industry firms also produce liquefied natural gas (LNG) and liquefied petroleum gas (LPG).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.