The oil and gas industry is a major contributor to the Australian economy with total revenue of nearly $7 billion in 2010.
Australia’s biggest export in the industry is liquefied natural gas (LNG). Australia is the 18th largest producer of natural gas in the world and the seventh largest exporter of LNG. It is also the third-largest LNG exporter in the Asia-Pacific region. Australia’s LNG industry is forecast to continue its strong growth, with exports expected to rise at an annual rate of nearly 3.5% between 2010 and 2015.
Oil and gas workers in Australia are the best paid in the world, according to a survey by recruitment firm Hays Oil and Gas. Across the world, oil and gas workers make nearly $76,000 per year on average, while in Australia they make over $140,000 per year.
Key Stastics – Oil & Gas in Australia (source: Datamonitor)
Natural Gas Market
- Australia’s natural gas industry topped nearly $7 billion in revenues in 2010, decreasing at an annual rate of 8% between 2006-2010.
- In the same period production levels increased by 2.3% annually, reaching a total of 47 million cubic meters in 2010.
- The industry is forecast to grow by 3.4% between 2010 and 2015, with a total value of over $8.2 billion expected in 2015.
Onshore Gas Industry
- Onshore oil and gas production declined at a rate of 1.4% between 2000 and 2009.
- Production volume is expected to grow over 4% annually from 2009 to 2030.
- Onshore Capital Expenditure (Capex) made up 78% of total onshore expenditure in 2009, with Operational Expenditure (Opex) accounting for the remaining 22%.
- The crude oil industry posted revenues of $14.4 billion in 2010 – an annual rise of 7.8% from 2006 to 2010.
- Consumption levels increased at a rate of 3.1% between 2006 and 2010, reaching almost 177 million barrels in 2010.
- Industry performance is forecast to fall at a rate of 0.5% per year between 2010 and 2015, which is expected to see value drop to $14.7 billion by end 2015.
Key Players – Oil & Gas in Australia
- Origin Energy Limited, Envestra Limited, Prime Infrastructure Group, DUET Group, AGL Energy Limited, BHP Billiton Limited, Santos Ltd, Woodside Petroleum Ltd, ExxonMobil Australia Pty Ltd, Shell Energy Holdings Australia Limited, PetroChina
Latest Business News/Wins – Australia Oil & Gas Market
- Shell to Deploy Revolutionary Floating Liquefied Natural Gas Facility
- Coal Seam Gas Operator Arrow Faces Shutdown after Well Blowout
Upcoming Events – Oil & Gas Industry
- Dredging Australia, July 26-27, 2011, Brisbane, QLD, Australia
- 3rd Annual Midwest Resources Developments, November 29, 2011, Perth, WA, Australia
- Coalbed Methane Conference, July 11-14, 2011, Singapore