May 2016, Vol. 243, No. 5

Web Exclusive

BP Faces Setback in World’s Largest Unexplored Oil Basin

As if the current oil markets weren’t tough enough for producers, companies are increasingly finding that regulators are making it harder to drill new sources of oil. For instance, BP was recently told by regulators that it will need to revise and resubmit its plan to explore for oil off of the Southern Australian coast. This request marks the second time that BP has been told to modify its proposal by Australian regulators. The Southern Australian Bight area off the coast of the country has attracted half a dozen major oil firms who have spent more than a billion dollars hunting for oil. The area is the largest relatively unexplored area in the world with potentially giant reserves of oil.

Log in to view this article.

Not Yet A Subscriber? Here are Your Options.

1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Pipeline & Gas Journal magazine.

2) Start your full access subscription to Pipeline & Gas Journal and gain UNLIMITED access to this article, the current issue, all past issues in the technical archive, access to all special reports, special focus supplements and more. Pricing start at $395/year.   

*Access will be granted the next business day.

 

Related Articles

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}