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Oil, gas and energy

LNG-tanker-(bubble)---Image-courtesy-of-WoodsideLNG-tanker-(bubble)---Image-courtesy-of-Woodside

Western Australia ranks among the best jurisdictions in the world for energy ventures. Our international reputation as a centrally-located hub in the Asia Pacific and Indian Ocean regions makes the State an attractive location for both additional foreign direct investment and associated technological research and innovation activities.

A world leading LNG exporter

Perth is Australia’s only member of the World Energy Cities Partnership, alongside the ranks of established global centres, including Aberdeen, Stavanger, Houston and Calgary.

Western Australia is rich in petroleum resources, with 92% or approximately 140 trillion cubic feet (tcf), of Australia’s conventional gas resources held in basins along the State’s coastline. Onshore shale and tight gas reserves are estimated to be approximately 280tcf, double the offshore resources.

By 2018 the State will become one of the world’s largest exporters of LNG with annual production capacity forecast to more than double to 50 million tonnes, driven by record investment in some of the world’s largest LNG projects being developed such as Gorgon, Wheatstone, Ichthys and Prelude. 

As Western Australia’s oil and gas projects transition from the construction to production phase, a range of business development opportunities in maintenance, service and support, research and technological innovation are emerging. 

As Australia’s closest capital city to the Indian Ocean rim countries of Asia and Africa, Perth also makes an ideal base for companies eyeing opportunities in the region.

The State has a growing reputation for the development and uptake of renewable energy technologies.

Western Australian companies have been at the forefront of wave energy research and development and are responsible for developing some of the most advanced wave energy technologies globally. The Perth Wave Energy Project developed by WA’s Carnegie Wave Energy, was the world’s first commercial-scale wave energy array connected to the grid and has the ability to produce desalinated water.

WA's award winning White Gum Valley is WA’s first One Planet Community and is currently a 'living laboratory' research program to help encourage sustainable living with a focus on increasing the uptake of new renewable energy technologies.

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A world leading LNG exporter

Onshore exploration
There are four options available to companies seeking to acquire onshore petroleum acreage in Western Australia – work program bidding; farming in to existing titles; ‘over the counter’ Special Prospecting Authority; and company takeover. Onshore acreage is administered by the Western Australian Department of Mines and Petroleum

Releases occur twice a year and are usually announced at significant industry events.

Offshore exploration
Offshore activities in Australian waters are managed by the National Offshore Petroleum Titles Administrator. Offshore titles can be obtained by bidding for vacant exploration acreage releases or farming into existing offshore titles.

Offshore acreage is released twice a year, generally in April and October.

Petroleum Equipment, Technology and Services
Western Australia’s oil and gas industry is reaching a new stage of maturity with major LNG projects transitioning from construction to production. New business development opportunities are emerging in subsea and marine, unconventional gas, operations and maintenance, engineering design and fabrication and research and innovation.

Downstream value-added products
As a global energy hub, the State continues to investigate options to expand downstream processing to add to the existing value-added products it delivers to international and local markets.

The State is seeking investment in a range of value-added products including Liquefied Natural Gas, domestic gas processing, ammonia, urea, methanol, gas to liquids and other downstream gas processing or strategic industries.

Renewables
Investment opportunities may be available in geothermal, wave, solar, wind, tidal and biomass energy.

Significant hot-rock resources in Western Australia have been identified in the Canning, Carnarvon and Perth Basins, that may be viable geothermal energy sources.

For more information, please visit:

National Energy and Resources Australia > 
Landcorp >
Australian Renewable Energy Agency >

Related documents:

Department of Mines, Industry Regulation & Safety July 2017 eNewsletter > 
Western Australia’s LNG Future >
Petroleum and Geothermal Exploration Guide >
Major Resource Projects 2016 >
Petroleum Titles Map 2016 >
LNG Profile >

Investment Opportunities Petroleum >

WA Decommissioning Guideline >

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