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Project Insights

Aussie upstream spending rises as demand outlook brightens

Forecasts for rising international gas demand out to 2022 have prompted renewed interest in exploration and drilling in Australian acreage Forecasts for rising international gas demand out to 2022 have prompted renewed interest in exploration and drilling in Australian acreage.
By Sally Bogle 22 February 2019 Asia Pacific / Exploration & Production 0 33967
The Darwin LNG plant in Australia. (Conoco)

Upstream operators in Australia are stepping up spending on exploration and drilling following a prolonged lull in activity as the market responds to an anticipated upswing in international gas demand early in the next decade.

Australia is set to be one of several hotspots for gas exploration in 2019-2020 alongside the United States, Norway, the UK, Brazil, India and Mexico. This will represent a marked change from previous years, when exploration spending in Australia all but dried up as a...