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Australia Oil and Gas Exploration and Production Market Volumes and Forecast by Terrain, Assets and Major Companies, 2021-2025

The natural gas production in Australia is estimated at 14,226 mmcfd in 2022 and forecast to increase slightly over the next five years. This gradual growth and stability in gas production is most likely attributed to the shift in energy transition and increase in demand for gas domestically and internationally. Much of the new gas production for the country will go to natural gas and LNG supply for the domestic and Asia-Pacific market.

Australia oil and gas exploration and production market overview

Australia oil and gas exploration and production market overview

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What are the market dynamics in the Australia oil and gas exploration and production industry?

Exploration activity in Australia has remained at its lowest since 2004, with only one wildcat exploration well drilled offshore in 2017 and four in 2018 till date. Despite domestic gas prices having doubled over the last few years on the east coast of Australia, exploration activity has remained low. It appears that there is light at the end of this tunnel, as exploration activity in Australia picks up again. 

The Australian government are responsible for the distribution or blocks and licensing in Australia. The major companies: Beach Energy, Santos, Shell, China Petrochemical, Conoco Phillips, Exxon, Total Energies SE and Chevron are assigned the most blocks, this is because of their vast resources required to uptake and execute several projects. 

The growing global demand for energy, led mainly by China and India over the past decade, coupled with the shift in energy transition has driven a strong increase in gas demand, particularly LNG due to its suitability for long-distance transportation. Australia’s geographic/geological positioning, ability to attract foreign investors/oil and gas majors and key Asian LNG buyers has enabled Australia to meet the various demands and emerge as one of the world’s largest LNG exporters.

What are the key terrain segments in the Australia oil and gas exploration and production market?

The key terrain segments in Australia oil and gas exploration and production market are onshore, shallow water, and deep water. In 2021, shallow water was the highest terrain segment in Australian oil and gas exploration market, followed by deep water.

Australia oil and gas exploration and production market, by terrain segments

Australia oil and gas exploration and production market, by terrain segments

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What are the key assets in Australia oil and gas exploration and production market?

The key assets in Australia oil and gas exploration and production market are Ichthys LNG Project, North West Shelf Venture, Van Gogh, Prelude, Vincent, Wheatstone & Iago, Greater Gorgon, Norton over Laverda, Gippsland, and Bauer.

Australia oil and gas exploration and production market, by assets

Australia oil and gas exploration and production market, by assets

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Which are the key companies in the Australia oil and gas exploration and production market?

Some of the key companies in the Australia oil and gas exploration and production market are Inpex Corp, Woodside Petroleum Ltd, Chevron Corp, Santos Ltd, Shell plc, Beach Energy Ltd, BHP, Mitsui & Co Ltd, and TotalEnergies SE.

Australia oil and gas exploration and production market, by key companies

Australia oil and gas exploration and production market, by key companies

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Market report scope

Market size (Natural gas production) 2022 14,226 mmcfd
Forecast period 2021-2025
Key terrain Onshore, Shallow Water, and Deep Water
Key asset Ichthys LNG Project, North West Shelf Venture, Van Gogh, Prelude, Vincent, Wheatstone & Iago, Greater Gorgon, Norton over Laverda, Gippsland, and Bauer
Key companies Inpex Corp, Woodside Petroleum Ltd, Chevron Corp, Santos Ltd, Shell plc, Beach Energy Ltd, BHP, Mitsui & Co Ltd, and TotalEnergies SE

Scope

  • Australia’s oil and gas production outlook by assets terrain, and major companies
  • Key details of active and upcoming oil and gas assets in the country
  • Recently licensed blocks details, licensed blocks count by company, and latest discoveries
  • Latest mergers and acquisitions related to the E&P sector in the country

Reasons to Buy

  • Gain a strong understanding of the Australia’s E&P sector
  • Facilitate decision making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries
  • Assess your competitor’s production outlook and licensed blocks count in the country
  • Analyze latest M&A landscape related to the country’s E&P sector

Table of Contents

Australia Exploration and Production Sector 6

Australia Exploration and Production Sector, Oil and Gas Production Outlook 8

Australia Exploration and Production Sector, Marketed Natural Gas Production by Terrain 10

Australia Exploration and Production Sector, Gross Crude Oil and Condensate Production by Assets 12

Australia Exploration and Production Sector, Marketed Natural Gas Production by Assets 15

Australia Exploration and Production Sector, Net Entitlement Crude Oil and Condensate Production by Major Companies 18

Australia Exploration and Production Sector, Net Entitlement Natural Gas Production by Major Companies 23

Australia Exploration and Production Sector, Active and Upcoming Oil and Gas Asset Details 28

Australia Exploration and Production Sector, Exploration 39

Australia Exploration and Production Sector, Total Licensed Blocks 39

Australia Exploration and Production Sector, Licensed Blocks by Company 39

Australia Exploration and Production Sector, Exploration 47

Australia Exploration and Production Sector, Exploration Details, Exploration 47

Australia Exploration and Production Sector, Major Oil and Gas Discoveries 57

Australia Exploration and Production Sector, Number of Oil and Gas Discoveries, 2017 – 2021 57

Australia Exploration and Production Sector, Oil and Gas Discovery Details 59

Recent Contracts 64

Recent M&A Activity 99

Appendix 108

Methodology 108

Coverage 108

Secondary Research 108

|Contact Us 109

List of Tables

Australia, Total Gross Crude Oil and Condensate Production (bd) by Terrain, 2016-2025 9

Australia, Marketed Natural Gas Production by Terrain (mmcfd), 2016-2025 11

Australia, Gross Crude Oil and Condensate Production (bd), by Assets, 2016-2025 13

Australia, Marketed Natural Gas Production (mmcfd), by Assets, 2016-2026 16

Australia, Net Entitlement Crude Oil and Condensate Production (bd), by Major Companies, 2016 – 2025 19

Australia, Net Entitlement Natural Gas Production (mmcfd), by Major Companies, 2016 – 2025 24

Australia, Active and Upcoming Oil and Gas Field Assets Details 29

Australia, Total Licensed Blocks, 2010-2020 39

Australia, Licensed Blocks by Company, 2010-2020 39

Australia, Recently Licensed Block Details 47

Australia, Number of Oil and Gas Discoveries, 2017 – 2021 58

Australia, Oil and Gas Discovery Details, 2017 – 2021 59

Recent Contracts 64

Recent M&A Activity 99

List of Figures

Australia, Total Gross Crude Oil and Condensate Production (bd) by Terrain, 2016-2025 8

Australia, Marketed Natural Gas Production by Terrain (mmcfd), 2016-2025 10

Top 10 Fields in Australia by 2020 Crude Oil Production 12

Top 10 Fields in Australia by 2020 Natural Gas Production 15

Top 10 Companies in Australia by 2020 Crude Oil and Condensate Production 18

Top 10 Companies in Australia by 2020 Natural Gas Production 23

Australia, Active and Upcoming Oil and Gas Assets by Production Start Year 28

Australia, Number of Oil and Gas Discoveries, 2017 – 2021 57

Frequently Asked Questions

The natural gas production market volume in the Australian oil and gas exploration and production market is 14,226 mmcfd in 2022.

 

 

Onshore, shallow water, and deep water are the key terrain segments in the Australian oil and gas exploration and production market.

Ichthys LNG Project, North West Shelf Venture, Van Gogh, Prelude, Vincent, Wheatstone & Iago, Greater Gorgon, Norton over Laverda, Gippsland, and Bauer are the key assets in the Australian oil and gas exploration and production market.

Inpex Corp, Woodside Petroleum Ltd, Chevron Corp, Santos Ltd, Shell plc, Beach Energy Ltd, BHP, Mitsui & Co Ltd, and TotalEnergies SE are the key companies in the Australian oil and gas exploration and production market.

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