Exploration and appraisal year in review 2021
Adam Craig A *A RISC Advisory Pty Ltd, Perth, WA, Australia.
The APPEA Journal 62 S527-S536 https://doi.org/10.1071/AJ21222
Accepted: 11 April 2022 Published: 13 May 2022
© 2022 The Author(s) (or their employer(s)). Published by CSIRO Publishing on behalf of APPEA.
Abstract
Petroleum exploration and appraisal activity increased in 2021. Exploration spend increased for the year, continuing a positive trend. Onshore exploration and appraisal activity continues to dominate the petroleum exploration scene in Australia. Positive indications of increased work program bids (wells, seismic and spend) are, however, tempered by the downward trend of total exploration acreage (by area) and new acreage awards. In addition to petroleum exploration acreage, greenhouse gas sequestration acreage was released across Australia in 2021. Twenty-nine exploration wells were drilled in the year compared to twenty-five in the previous year. Eight conventional petroleum discoveries were reported, with the Artisan-1 discovery in the Otway Basin being the only offshore discovery. The Lockyer Deep-1 gas discovery in the Northern Perth Basin continues the exploration success of the Permian Kingia and High Cliff Sandstone play. The Cooper–Eromanga Basin continues to yield discoveries with the Odin-1, Rosebay-1, Lowry South, Liger-1 and Chimera-1 discoveries reported for the year. Thirty-one appraisal wells were drilled for the year with significant activity in the Northern Perth Basin, Cooper-Eromanga Basin and Bowen-Surat Basins. Exploration and appraisal drilling also continued in the Beetaloo Sub-basin with the drilling of the Tanumbirini-2H, Tanumbirini-3H and Carpentaria-2/2H wells during the year.
Keywords: acreage awards, appraisal, Beetaloo Sub-basin, Canning Basin, Carnarvon Basin, Cooper–Eromanga Basin, drilling, exploration, Otway Basin, Perth Basin, release round, seismic.
Adam Craig is a highly experienced geoscientist with over 30 years’ experience working with WMC Resources, Woodside, Cooper Energy and KUFPEC prior to joining RISC in 2020. Adam has significant global experience in exploration, appraisal, development and production activities. He is a member of PESA (2021–2022 WA branch President), AAPG (CPG) and a Fellow of the Geological Society. |
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