An Ease On E&P Restrictions On the Horizon Down Under

"Commonwealth, state and territory leaders agreed to start reducing duplication and red tape on exploration and development applications, as well as environmental controls," reported an Australian business news source.

Sources indicate that without such a movement put into motion by the Australian government, current crude supplies would run dry within the decade "without significant new discoveries."

The Australian wrote that "the urgent need for the next Bass Strait of crude oil fields, as well as bolstering local gas stocks at a time of unprecedented international demand, has led governments to re-examine the barriers to finding new supplies."

The Australian Petroleum and Exploration Association Chief Executive Belinda Robinson told reporters, "The oil and gas industry welcomes the [Council of Australian Government] outcome because for far too long oil and gas projects have suffered at the hands of competitive federalism."


We want to hear from you. Questions, opinions and suggestions are all welcomed by the Rigzone Staff. Write us at news@rigzone.com .

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Operator Assistant
Expertise: Regulatory Compliance|Rig Mover|Wireline
Location: Bakersfield, CA
 
Operations Coordinator
Expertise: Logistics Management|Operations Management
Location: Sugar Land, TX
 
Director of Contracting
Expertise: Contracts Engineer|Refinery Specialist
Location: Salt Lake City, UT
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours