2001 exploration review

Abstract

Exploration expenditure in 2001 was the highest ever and successful wildcats were drilled in all major petroleum basins. Much of the success can be attributed to the increasing use of 3D seismic data prior to drilling. Although 2001 saw the first onshore exploration permits awarded since the mid-90s the resolution of Native title still remains the highest concern for onshore exploration. Decreasing 2D acquisition may indicate failure to be exploring in frontier areas. The discovery of the Thylacine and Geographe fields in the offshore Otway recharged exploration on Australia's southern margins. The success of Cliff Head-1 in the offshore Perth Basin demonstrates that small independents can still play a major role in Australian exploration.