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
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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.Â
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.Â
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
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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
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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
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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
List of Tables
List of Figures
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.
