The Great Australian Bight Basin is an offshore basin, located off the southern coast of Australia. Compared to other, higher profile basins around Australia, the basin has seen minimal exploration activity and no discoveries have been made. The basin is exposed to harsh weather conditions and rough sea states, and developments will have to be built to high specification to withstand the conditions. The basin is touted as one of the most prospective in the world but full-cycle economics of exploring an unproven frontier basin are not attractive in the current environment. BP and Chevron have both exited the basin.