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FROM OUR CORRESPONDENTAUSTRALASIA


Export boom promises long life for Australian energy exploration


The traditional mining and energy sectors continue to present opportunities for project logisticians in Australia and New Zealand. In addition, the rapid deployment of renewable power generation projects, as well as battery storage technology, is providing a welcome bonus to the region’s miners.


our regional correspondent in


Dave MacIntyre, AUSTRALASIA


Science and Innovation has forecast that the combination of Australia’s falling currency and growing energy demand will lift export values to about AUD252 billion (USD182 billion) in 2018-19, nearly 10 percent above previous estimates. Demand has kept the prices of oil and thermal coal relatively high over the second


A 76 January/February 2019


weaker Australian dollar and increasing global demand for coal, oil and LNG have set Australia on the path to a new export boom. The Department of Industry,


half of 2018. That, in turn, is spurring activity in traditional exploration and production areas. Energy giant Woodside has progressed its


North West Shelf joint venture, reaching preliminary agreements to process LNG for the Woodside-led Browse project and Chevron’s Clio-Acme field. This is expected to keep the Karratha gas


plant operating at full capacity as supply from other sources begins to decline in the next few years. Also in Western Australia, Carnarvon


recently completed a positive initial assessment of follow-up prospects to the highly successful oil discovery at the Dorado-1 offshore well. Three prospects have been estimated to contain significant quantities of oil, gas and condensate. In Queensland, the state government has


announced it will open up more than 6,600 sq km of land for gas exploration. The release means opportunities for more investment in regional Queensland and will underpin domestic gas supply and the state’s growing LNG export industry.


New Zealand exploration Even in New Zealand, where the energy exploration sector was shocked by the government’s mid-2018 decision to not grant any more offshore exploration permits, there is still great activity planned in the interim. In the energy province of Taranaki, as


many as 20 wells are being drilled or planned in the next two years. Among the main projects, OMV New Zealand is looking at up to two exploration wells offshore next year, while Tamarind Resources is scheduled to drill four sidetrack wells and an exploratory well in the offshore Tui field. Tamarind Resources will be using a semi-submersible


www.heavyliftpfi.com


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