Chevron Australia withdraws from GAB
The South Australian Chamber of Mines and Energy (SACOME) is disappointed for South Australia that Chevron Australia has made the decision to discontinue its Great Australian Bight (GAB) exploration program, a year since BP also made the decision not to progress its exploration drilling program in the same region.
Both companies have acknowledged the prospectivity of the region but cited the decision to withdraw as a commercial one.
Chevron Australia’s affiliates acquired two deep-water exploration blocks in the GAB Basin in October 2013, with acreage spanning more the 32,000 square kilometres.
Rebecca Knol CEO SACOME said: “The international landscape for the petroleum sector is complex with companies having to make difficult commercial decisions. The resource potential of the GAB cannot be overlooked as the economic development benefits for South Australia would be significant.
“We see no reason why offshore petroleum activities cannot continue safely and sustainably with appropriate regulatory oversight by the National Offshore Petroleum Safety and Environmental Management Authority”.
Media contact: Rebecca Knol, CEO SACOME, 0409 012 007
Membership enquiries: SACOME, 08 8202 9999 or sacome@sacome.org.au
The South Australian Chamber of Mines and Energy (SACOME) is disappointed for South Australia that Chevron Australia has made the decision to discontinue its Great Australian Bight (GAB) exploration program, a year since BP also made the decision not to progress its exploration drilling program in the same region.
Both companies have acknowledged the prospectivity of the region but cited the decision to withdraw as a commercial one.
Chevron Australia’s affiliates acquired two deep-water exploration blocks in the GAB Basin in October 2013, with acreage spanning more the 32,000 square kilometres.
Rebecca Knol CEO SACOME said: “The international landscape for the petroleum sector is complex with companies having to make difficult commercial decisions. The resource potential of the GAB cannot be overlooked as the economic development benefits for South Australia would be significant.
“We see no reason why offshore petroleum activities cannot continue safely and sustainably with appropriate regulatory oversight by the National Offshore Petroleum Safety and Environmental Management Authority”.
Media contact: Rebecca Knol, CEO SACOME, 0409 012 007
Membership enquiries: SACOME, 08 8202 9999 or sacome@sacome.org.au