Aust. oil plans
NZPA-AAP Canberra The search for petroleum in Australia is expected to maintain momentum in 1986. The Australian Petroleum Exploration Association’s annual activity survey indicates that more than 240 exploration wells will be drilled next year at a cost of more than S3BOM (SNZS2OM). There is also a possibility that the exploration effort will approach 300 wells in a year for the first time. This will depend on whether on-shore exploration programmes are expanded by some 60 wells beyond “definite” plans. APEA’s executive director, Mr Keith Orchison, said that the additional drilling would depend on many factors, including the weather, oil prices, discovery rates and the confidence of the investment community in the industry. Mr Orchison said the association had surveyed 56 groups engaged in the search for oil and gas in Australia.
They disclosed plans to drill 204 on-shore exploration wells and 36 off-shore wells, compared with 262 wells (225 on-shore and 37 off-shore) in 1985.
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Press, 18 December 1985, Page 38
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159Aust. oil plans Press, 18 December 1985, Page 38
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