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APPEA sees big future in the Bight

Australian Petroleum Production and Exploration Association (APPEA) believes oil and gas production in the Great Australian Bight could be greater than or equivalent to that in the Bass Strait.

The Advertiser reported APPEA SA and NT Director Matthew Doman said drilling in the Bight was “the big opportunity” for South Australia’s oil and gas industry, comparing it to the Bass Strait for Victoria and Tasmania.

Speaking at the South Australian Major Projects Conference in Adelaide, Mr Doman said there hadn’t been enough focus on the area, which had the potential to create “a very significant stimulus towards South Australia’s economic growth”.

BP and Chevron have stalled their plans for projects in the Bight; however, Norwegian Oil company Equinor – formerly Statoil – plans to commence drilling in the area at the end of next year.

Karoon Oil, Bight Petroleum and Murphy Oil are among other companies that hold exploration permits in the expanse, which has been estimated to contain potential resources of 1.9 billion barrels of oil.

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