PETROLEUM EXPLORATION OUTLOOK FOR 1968

Abstract

To change is expected in the trend which has developed over the last few years towards increasing interest in offshore areas, and in Papua-New Guinea.

The overall expenditure on petroleum exploration in Australia and Papua-New Guinea during 1968 will be approximately the same as in 1967.

Because of the greater expense which will be incurred through the increased use of offshore drilling vessels, a reduction in other exploration activities is expected. This reduction will occur mainly in geophysical operations and the biggest reduction will be in seismic surveys on land.