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Norway's Equinor Will Enter The Australian Offshore Oil Exploration
Mar 08, 2019

According to Reuters, the Norwegian state-owned energy company Equinor plans to explore oil in the deep seas of South Australia in 2020.

According to Equinor's plan, it will drill a Stromlo-1 exploratory well with a water depth of 2,239 meters in the Great Australian Bay. There have been no exploration wells in this area since 2003. Energy consultancy Wood Mackenzie estimates that this area may contain 1.9 billion barrels of oil equivalent oil and gas resources.

Equinor said that it will consider the views of the parties before submitting the exploration plan to the Australian offshore regulator and expects to receive feedback on the draft environmental assessment in March.

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