Where is Australia's petroleum and how long will it last?

Australia has progressed from a continent considered to have little potential for petroleum resources in 1950 to a middle-order oil and gas producer on a worldwide scale in the late 1990s. The Petroleum Search Subsidy Act (1957) encouraged exploration that resulted in discoveries in the Gippsland, Carnarvon, Amadeus, Cooper, Bowen and Surat Basins. Together with the Bonaparte and Eromanga Basins, these basins are now Australias main petroleum producing regions. Subsequently, the Petroleum (Submerged Lands) Act (1967) and various State Acts were passed to manage exploration and production. In Australia, about 7750 million barrels of crude oil and condensate (1230 gigalitres) and 96 trillion cubic feet of gas (2720 billion cubic metres) had been identified to the end of 1996. The Bureau of Resource Sciences (BRS) assessed that between 1320 million barrels (95% probability) and 3440 million barrels (5%) of crude oil remain to be discovered, and between 18 trillion cubic feet (95% probability) and 58 trillion cubic feet (5% probability) of sales gas remain to be discovered. Australias most prospective crude oil basins, ranked in order, are assessed as the Carnarvon, Bonaparte, Gippsland, Browse, Perth, Otway and Eromanga, with speculative potential in the Perth Basin, Otway Basin and other basins. The most prospective basins for sales gas are ranked as Carnarvon, Browse, Otway, Bonaparte, Cooper, Gippsland and Perth Basins. Australias likely ultimate crude oil resource was assessed as being about 52% depleted and sales gas resource as about 10% depleted at mid-1997 (BRS 1998). However, because of the relatively low level of exploration in Australia it is impossible to estimate how long the petroleum resource will last. Approximately 94% of crude oil production and 75% of gas production are from offshore. New production is likely to come mainly from already-known basins with contributions from deepwater areas and possibly the Exclusive Economic Zone.

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Date (Publication)
2000-01-01T00:00:00
Citation identifier
Geoscience Australia Persistent Identifier/https://pid.geoscience.gov.au/dataset/ga/81552

Cited responsible party
Role Organisation / Individual Name Details
Publisher

Australian Geological Survey Organisation

 Canberra
Author

Williamson, P.E.

 1
Author

Forman, D.J.

 2
Author

le Poidevin, S.

 3
Author

Summons, R.E.

 4
Author

Stephenson, T.E.

 5
Name

AGSO Journal of Australian Geology and Geophysics

Issue identification

17:5-6:35-42

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Owner

Commonwealth of Australia (Geoscience Australia)
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Commonwealth of Australia (Geoscience Australia)

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  • Geoscientific information
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Unknown

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Product data repository: Various Formats

Website

Data Store directory containing the digital product files

Data Store directory containing one or more files, possibly in a variety of formats, accessible to Geoscience Australia staff only for internal purposes

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Australian and New Zealand Standard Research Classification (ANZSRC)

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2018-11-01T00:00:00
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GA Publication

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Source data not available.

Metadata constraints

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Australian Government Security ClassificationSystem

Edition date
2018-11-01T00:00:00
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AGSO BMR Journal

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Geoscience Australia - short identifier for metadata record with

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Date info (Revision)
2018-04-20T06:06:49
Date info (Creation)
2014-06-03T00:00:00

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ISO 19115-1:2014

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Geoscience Australia Community Metadata Profile of ISO 19115-1:2014

Edition

Version 2.0, September 2018

Citation identifier
https://pid.geoscience.gov.au/dataset/ga/122551

 
 

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