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Deloitte: Australian onshore exploration doubles

Feb 24
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Deloitte: Australian onshore exploration doubles

by Aurelia Blass

Onshore oil and gas exploration activity in Australia has doubled since 2010, according to a new report from Deloitte.

The research released for the fourth quarter of 2011 stated that the southern hemisphere country had strengthened its position as one of the world leaders in fossil fuel activity.

Despite a number of natural disasters within the country, such as floods in the Mangoola region, Australia maintained a high level of output of drilling and licensing activity.

Companies around the region posted positive production figures with thermal coal giant Xstrata revealing that its rates were up by seven per cent in the past 12 months.

Whilst onshore activity showed a 131 per cent increase on 2010's figure, with a total of 67 wells being spudded, offshore operations are also performing well.

Stephen Reid, Deloitte's national oil and gas leader, said:
"Offshore drilling activity contracted for the third consecutive year, partly as a result of lower drilling commitments put forward in work programmes in recent years."

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