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Australian Energy Producers Journal Australian Energy Producers Journal Society
Journal of Australian Energy Producers
RESEARCH ARTICLE (Non peer reviewed)

Can Australia create ‘super’ basins?

Angus Rodger A * and Anne Forbes B *
+ Author Affiliations
- Author Affiliations

A Wood Mackenzie, Singapore.

B Wood Mackenzie, Perth, WA, Australia.

The APPEA Journal 63 S438-S441 https://doi.org/10.1071/AJ22023
Accepted: 3 February 2023   Published: 11 May 2023

© 2023 The Author(s) (or their employer(s)). Published by CSIRO Publishing on behalf of APPEA.

Abstract

The world’s need for sustainable energy requires the upstream industry to utilise and deliver renewables and carbon capture and storage (CCS) at scale. To do that we must focus on where the synergies with low-carbon technologies are greatest. We define these as the energy ‘super basins’ of the future – where large hydrocarbon resources are co-located with plentiful clean electricity and CCS potential. These basins provide a viable pathway for industry to become sustainable. Basins without these attributes are disadvantaged, and face being left behind. This paper will focus on where Australian basins sit on this scale – which are the most advantaged through to disadvantaged? Which have the most viable renewables and CCS/CCUS (carbon capture, utilisation and storage) potential? Advantage also depends on cost – renewable energy must be abundant and affordable. In Australia today, upstream resources are plentiful but advantaged resources are not. But that perspective is not fixed, and there is much industry can do to strengthen its outlook. The average upstream emissions intensity of Australian projects is significantly above the global average – due to remote locations, high energy intensity and contaminants. Using renewables and CCUS to cut emissions is a logical step. Government policy, new technologies and exploration can also make a difference. But what of smaller basins without scale? Can Australian operators create ‘boutique’ basins with niche advantages – such as copious wind or solar power – that enable them to extend their longevity? Making Australia’s upstream sector resilient and sustainable is a huge challenge and will require ambitious, innovative basin-level thinking.

Keywords: Australia, Bass, Beetaloo, Browse, carbon capture and storage, Carnarvon, CCS/CCUS, Cooper, corporate strategy, decarbonisation, deepwater, gas, Gippsland, helium, offshore, onshore, Otway, Perth Basin, renewables, social license, solar, Surat, upstream, wind.

Angus Rodger – Director of Upstream Research. Angus is a research director in Wood Mackenzie’s Asia-Pacific upstream team. He is also a Wood Mackenzie global upstream ‘thought-leader’ and author of benchmark analysis of global pre-FID and deepwater projects, regional gas markets, upstream decarbonisation and CCS. Based in Singapore since 2006, he has over 15 years of experience in upstream analysis, client engagement and business development across Asia-Pacific. Since joining Wood Mackenzie in 2008, Angus has participated in a wide range of research and consulting projects for IOCs and NOCs. He has also been a host and presenter of Wood Mackenzie’s Asia-Pacific podcasts, conferences and webinars. Prior to Wood Mackenzie, he worked in the upstream industry for 5 years, covering the North Sea, Africa and Asia. Angus holds a BA (Hons) degree in Politics with International Relations from the University of Warwick.

Dr Anne Forbes – Senior Upstream Research Analyst. Anne is a research analyst in Wood Mackenzie’s Australasia upstream research team. Since joining in early 2022, she has worked on oil and gas assets, and the domestic market balance, across Australia. Prior to Wood Mackenzie, Anne spent 8 years at Chemostrat in a technical geological role in the upstream industry. She specialised in stratigraphic analysis and has worked across Australia’s principal producing basins. Anne has a Bachelors and Masters in Geology from the University of Cambridge, and a PhD in Volcanology from the Open University.


References

Gibb J, Rodger A, Harwood A, Forbes A, Bandal S, Huong Tra H (2022) ‘Asia Pacific Upstream: 5 Things to Look for in 2023’. pp. 1–7. (Wood Mackenzie)

Latham A, Wilson J, Gaylord B (2022) ‘Energy Super Basins: Where the Renewable, CCS and Upstream Stars Align’. Horizons Series. pp. 1–12. (Wood Mackenzie)

Rodger A, Toleman D, Cullen L, Gibb J, Forbes A, Simpson L, Harwood A (2022) ‘Australian Government to Introduce Gas Price Cap’. pp. 1–7. (Wood Mackenzie)

Thompson G (2021) ‘APAC Energy Buzz: Carbon Capture and the Future of LNG in Asia’. pp. 1–2. (Wood Mackenzie)