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AUSTRALASIA 

Australia produces most of Australasia’s oil and gas, although Timor Leste (oil and gas) and Papua New Guinea (gas) will provide a growing contribution.

The bulk of the oil is produced offshore. The region as whole is witnessing a drawn out peak as new remoter fields roughly balance decline of older inshore and onshore fields.

Offshore gas production is growing slowly but will grow rapidly after 2006 as new fields come onstream in remoter areas for conversion to LNG.

Slow growth in consumption of oil and gas since 1996 is expected to continue to 2011/12 when high oil prices will restrain demand.

Oil imports will stay roughly stable whilst production adjustments match consumption.

However, gas exports are set to take off as new offshore developments progressively come onstream, mostly to satisfy North Asian markets.

• Australia

• New Zealand

• Papua New Guinea

• Timor Leste

Population

 33 million

Onshore area

(000's sq kms)

8434

Offshore area

(000's sq kms)

NEW

 An up-to-date low cost oil and gas production and consumption forecast report on this region can be commissioned, including all relevant charts. Contact us for price and contents list.