2013 Australasian upstream exploration and licensing review
Australasian exploration in 2013 dropped to its lowest level in the last ten years. There were 97 conventional exploration and appraisal wells (E&A) drilled, 37% fewer than 2012. Drilling success rates remained high at 25%, due to the number of near-field and onshore successes, but discovered volumes totalled only 350 million barrels of oil equivalent – the poorest result since the nineties.
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Unconventionals in focus in Australia, but deepwater delivers