B.H.P. OIL SUPPLIES
Australia Soon Self-Sufficient (N.Z. Press Assn—Copyright) SYDNEY, Jan. 26. “If in due course EssoBHP were to double Kingfish’s previously estimated yield rate, then it alone would supply nearly 40 per cent of Australia’s crude requirements by 1970,” the financial editor of the “Sydney Morning Herald” said today. Something dramatic must have occurred to the partnership’s appreciation of the Kingfish structure in recent weeks, he said. The decision to drill the third step-out six miles away from the original strike “implies a very extensive field.” Together with the Barrow Island and Moonie contributions Australia might be twothirds self-sufficient in oil by 1970. With the likelihood of new discoveries or upward revisions of previous estimates, the country might be all but independent of oil imports five years from now, other Australian commentators say.
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Press, Volume CVIII, Issue 31588, 27 January 1968, Page 16
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134B.H.P. OIL SUPPLIES Press, Volume CVIII, Issue 31588, 27 January 1968, Page 16
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