AUSTRALIA

(in Australasia)

CAPITAL: CANBERRA

POPULATION: 21 mm

AREA (on): 7,686,900 km2

OIL PEAK: 2000

SUPPLY

Most oil and gas production comes from offshore, firstly from the Gippsland basin in the southeast and later from a series of shallow and deep water basins along the North West Shelf. After an oil production spike in 2000 when new fields came onstream on the North West Shelf, oil output declined rapidly. However it is expected to resurge, and then flatten off through the next decade as the Gippsland basin fields continue to decline but are replaced by NGLs and condensates from Australia’s gas fields.

The Australian gas industry is growing with fields being developed throughout the North West Shelf to serve a growing indigenous pipeline market and an expanding LNG export capacity. Deep waters too are also providing Australia with long-term gas production growth.

 

DEMAND

Australia’s oil demand has been on a steady upward path as transport needs expand. However steady imports, higher prices and a drop in demand for its mined resources forced consumption down in 2008. Demand is now likely to remain flat, followed by slow decline after 2015.

Conversely ready supplies of gas and pressure for fuel substitution will ensure that gas demand continues to grow whilst exports of gas will also pick up rapidly, with growth continuing through to 2020.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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