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DEVELOPMENT OF THE OIL AND GAS INDUSTRY: THE AUSTRALIAN GOVERNMENT PERSPECTIVE

DEVELOPMENT OF THE OIL AND GAS INDUSTRY: THE AUSTRALIAN GOVERNMENT PERSPECTIVE . Thomas Bernecker Australian Government, Department of Industry, Geoscience Australia. Australian Government (federal) National policy and regulation: Allocation of offshore petroleum titles

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DEVELOPMENT OF THE OIL AND GAS INDUSTRY: THE AUSTRALIAN GOVERNMENT PERSPECTIVE

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  1. DEVELOPMENT OF THE OIL AND GAS INDUSTRY:THE AUSTRALIAN GOVERNMENT PERSPECTIVE Thomas Bernecker Australian Government, Department of Industry, Geoscience Australia

  2. Australian Government (federal) National policy and regulation: Allocation of offshore petroleum titles Fiscal, monetary and taxation policy Foreign investment and trade Environmental approvals State/Territory Governments (regional) Regional regulation: Allocation of onshore petroleum and mining titles Collection of onshore royalties Also responsible for coastal waters (3-mile zone) Australian Government Responsibilities www.petroleum-acreage.gov.au AACC Energy Conference, January 2014 – Workshop 1

  3. Natural Gas 158 Tcf / 4.5 Tcm of conventional gas +235 Tcf / 6.7 Tcm of coal bed methane 400 Tcf / 11.3 Tcm of shale gas (US EIA) 3rd largest global LNG exporter LNG exports of 24 mtpa (A$14 billion) Seven LNG projects under construction 1,100 PJ of dom-gas production (260 PJ of CBM) Oil and Condensate Currently a net oil importer Significant condensate and shale liquids potential Petroleum Industry Snapshot www.petroleum-acreage.gov.au AACC Energy Conference, January 2014 – Workshop 1

  4. North West Shelf Venture, Darwin LNG, Pluto LNG Combined production capacity of over 24 mtpa Customers in Japan, China and Korea Projects under Construction: Conventional Offshore LNG: Gorgon LNG, Wheatstone LNG, Ichthys LNG Floating LNG: Prelude FLNG FLNG projects in planning: Bonaparte, Scarborough, Browse CBM-LNG:Queensland Curtis LNG, Gladstone LNG, Australia-Pacific LNG Combined production capacity of over 60 mtpa Total capital investment of over A$180 billion LNG Project Overview www.petroleum-acreage.gov.au Operating Projects: Image courtesy of Woodside Energy Ltd AACC Energy Conference, January 2014 – Workshop 1

  5. Proximity to key Asian markets Strong economic resilience and world class business environment Stable objective-based petroleum regulatory regime Security of title with clear role of Government, regulators and industry Pre-competitive data and analysis available at cost of transfer Ongoing efforts to reduce regulatory burden Highly prospective acreage Near record levels of petroleum activity 31 offshore areas released for work program bidding in 2013 Proposed 2014 release to include areas for cash bidding Key Investment Considerations www.petroleum-acreage.gov.au AACC Energy Conference, January 2014 – Workshop 1

  6. www.petroleum-acreage.gov.au Current Permit North Perth Basin Permit WA-481-P awarded in August 2012 to: Murphy Oil / Kufpec / Samsung Guaranteed work program $80 mio, including 3 exploration wells Round 1 21 Nov 2013 2 large areas available: 12,400 km2 (163 grat. blocks) 6,540 km2 (87 grat. blocks) Round 2 22 May 2014 Re-Release 22 May 2014 Proposed for Release: 25,765 km2 (360 grat. blocks) Proposed for Release (work program) Large scale exploration since 2012: 4 permits operated by BP/Statoil 3 new permits awarded in 2013 to Murphy Oil/Santos and Chevron Proposed for Release (cash bidding) AACC Energy Conference, January 2014 – Workshop 1

  7. Current Permit W13-6 Round 1 21 Nov 2013 W13-7 W13-8 Big gas Round 2 22 May 2014 Re-Release 22 May 2014 • N-Carnarvon Basin • 73% of Australia’s total hydrocarbon production • 1.2 Tcf of gas and 108 MMbblof liquids produced in 2012 (APPEA, 2013) Proposed for Release (work program) Oil, condensate, gas Proposed for Release (cash bidding)

  8. The 2013 Acreage Release Product www.petroleum-acreage.gov.au • New streamlined acreage release documentation with emphasis on regional geology • Short geological summaries of gazettal areas • Supplementary compilation of published reports (USB) • New set of stratigraphic charts (DVD) • Comprehensive open file data package at cost of transfer 2.5 TB of data AACC Energy Conference, January 2014 – Workshop 1

  9. Key Priorities Stable regulatory regime with ongoing streamlining and improvement Best and safest offshore petroleum operations in the world Environmentally sustainable development Attractive new investment opportunities to support ongoing exploration and development Select cash bidding areas from 2014 Key Challenges Regulatory duplication Skills and labour Infrastructure capacity constraints Productivity Development of the Oil & Gas Industry www.petroleum-acreage.gov.au AACC Energy Conference, January 2014 – Workshop 1

  10. TEAM AUSTRALIA Business Seminar (supported by AACC), Monday 3 Feb, 5.30pm, Post Oak Hilton AUSTRALIA Booth (No. 1047), International Pavilion, NAPE 2014 2013 Acreage Release: www.petroleum-acreage.gov.au National Offshore Petroleum Titles Administrator: www.nopta.gov.au National Offshore Petroleum Safety and Environmental Management Authority: www.nopsema.gov.au Geoscience Australia: www.ga.gov.au Australian Petroleum News eNewsletter: petroleum.exploration@industry.gov.au Further information www.petroleum-acreage.gov.au AACC Energy Conference, January 2014 – Workshop 1

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