1999 EXPLORATION REVIEW

Abstract

Over the years, many issues have confronted the industry, and affected its approach to business. A brief analysis of seismic and exploration drilling levels over the past four decades demonstrates how marked these effects have been. During 1999, fewer wells have been drilled onshore in Australia than for any year since 1979. This is due in large part to the refusal of some State Governments to award newly gazetted acreage due to native title concerns. The solution required is a legislative one. Offshore drilling, however, is at a historically high level, and during 1999, had a success rate of one in five. Successes in both the onshore and offshore were restricted to currently producing basins.