https://www.engineeringnews.co.za

Further investment in the petroleum sector expected - Macfarlane

24th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Federal Industry Minister Ian Macfarlane is forecasting capital investments worth A$580-million in Australia’s petroleum sector over the next three years, after the government granted exploration permits offshore of Australia.

Macfarlane announced the new permits as part of the second round of the 2012 Offshore Petroleum Exploration Acreage release on Thursday.

The flow-on benefits from these permits could see as much as A$730-million in exploration investment over the next six years.

“This record investment in offshore exploration shows that the resources sector in Australia remains strong,” the Minister said.

He noted that the opening of new oil and gas exploration areas, like the Great Australian Bight, would ensure that Australia had enough energy to meet future needs.

“This shows that Australia is an attractive destination for investment in offshore exploration and sends a clear signal that Australia is open for business,” Macfarlane said.

Some of the benefactors of these permit grants included Australian major Santos, US major Chevron, Shell, Woodside Energy and Murphy Australia Oil.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Astore Keymak
Astore Keymak

Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.048 0.707s - 140pq - 2rq
Subscribe Now