What is the Gippsland Basin?
The Gippsland Basin is situated in southeastern Australia and is located about 200 km east of the city of Melbourne. Covering about 46 000 km2, two-thirds of the basin is located offshore where several giant oil and gas fields were discovered in the late 1960s (Figure 1).
Is Gippsland Basin in Victoria?
The Gippsland Basin is an ancient geological depocentre that began forming in the Early Cretaceous period. The basin is located in south-eastern Victoria and represents the eastern most part of the continental breakup system between Australia and Antarctica, starting approximately 130 million years ago.
Where is the Otway Basin?
The Otway Basin is a north-west to south-east striking, divergent margin, rift and drift basin. It is approximately 500km long from Cape Jaffa in South Australia to north-west Tasmania and forms part of the 4 000km long Jurassic-Cretaceous Australian Southern Rift System.
Are there oil rigs in Bass Strait?
There are now 23 offshore platforms and installations in Bass Strait, including the new Marlin B platform and Kipper subsea wells, which feed a network of 600km of underwater pipelines and keep the oil and gas flowing, 24 hours a day.
How much oil is in the Bass Strait?
three billion barrels
For more than 30 years Bass Strait has been Australia’s premier oil and gas production area, supplying the nation with more than three billion barrels of oil and over three trillion cubic feet of gas.
Where are Australia’s oil fields?
Over half of Australia’s remaining identified crude oil resources are located in the Northern Carnarvon and Roebuck basins. About one quarter of Australia’s crude oil reserves are located in the Cooper Basin, while approximately one quarter of remaining contingent resources are located in the Gippsland Basin.
What does Beach Energy do?
Beach Energy is an ASX listed, oil and gas exploration and production company headquartered in Adelaide, South Australia. Beach’s purpose to ‘sustainably deliver energy for communities’ means we operate while maintaining the highest health, safety and environmental standards. East Coast gas market.
What is the deepest part of Bass Strait?
The strait provides the most direct waterway between the Great Australian Bight and the Tasman Sea, and is also the only maritime route into the economically prominent Port Phillip Bay….
|Max. width||350 kilometres (220 mi)|
|Average depth||60 metres (200 ft)|
|Max. depth||155 m (509 ft)|
Who owns the Bass Strait?
Energy giant ExxonMobil has sealed a deal to supply gas from Victoria’s Bass Strait fields to British billionaire Sanjeev Gupta’s Australian steel-making operations until the mid-2020s.
Does Australia have its own oil wells?
Australia has significant undiscovered unconventional oil resources potential, including shale oil, tight oil, basin centred oil and oil shale. Oil shale is the only unconventional oil resource that has been exploited to date. Currently, there is no commercial production of oil shale resources in Australia.
Is there undiscovered oil in Australia?
Australia has significant undiscovered unconventional oil resources potential, including shale oil, tight oil, basin centred oil and oil shale. Oil shale is the only unconventional oil resource that has been exploited to date.
Why does Australia have no oil?
Therefore, despite having its own oil reserves and exporting some petroleum liquids, Australia is a net importer of crude oil and refined petroleum products. In 2000, the country saw its total oil production peak at 828,000 barrels per day (b/d). Since then, production levels have gradually decreased.
Why is Beach Energy going down?
Beach Energy said the drop was driven by declines in supplies, and planned and unscheduled maintenance at its Cooper Basin joint venture and Western Flanks. The troubled Western Flank experienced the biggest production declines.
How many employees does Beach Energy have?
approximately 550 employees
Beach Energy Limited is a locally-owned publicly listed company that derives its revenue from the exploration, development and production of oil and gas. The company has operations across Australia and New Zealand, employs approximately 550 employees and is administered by its head office in Adelaide, South Australia.
How shallow is the Bass Strait?
Geography of Bass Strait Bass Strait is a generally shallow (average depth of 50 m (160 ft)) stretch of water approximately 300 km (190 mi) wide and 200 km (120 mi) from north to south, encompassed by the entire northern coastline of Tasmania and Victoria’s central to eastern coast.
How much oil is left in Australia?
Australia has proven reserves equivalent to 2.9 times its annual consumption. This means that, without imports, there would be about 3 years of oil left (at current consumption levels and excluding unproven reserves).
Does Australia use Russian oil?
Even though Australia doesn’t get its fuel from Russia, when the world’s second-biggest crude oil exporter is cut off from international markets, that has a flow-on effect that hits every country.
How much oil is there in the Gippsland Basin?
The Gippsland Basin is recognised as one of Australia’s premier hydrocarbon provinces, having continually produced oil and gas since the late 1960s. In February 2021, remaining reserves were estimated at 1.8 Tcf (51.6 Gm 3) of natural gas and ethane, and 109 MMbbls (17.3 GL) of oil and natural gas liquids (EnergyQuest, 2021).
How many release areas are there in the Gippsland Basin?
There are 5 release areas in the Gippsland Basin, offshore south-eastern Australia. Release area locations: View petroleum geology information for the Gippsland Basin provided by Geoscience Australia.
Is the Gippsland Basin a rift valley?
As part of the Early Cretaceous rift system between Antarctica and Australia, the Gippsland Basin initial rift architecture consisted of a rift valley complex. Continued rifting into the Late Cretaceous generated a broader depocentre (the Central Deep; flanked by fault-bounded platforms and terraces to the north and south.
Where are the groundwater basins in Victoria?
The Victorian groundwater basins lie to the north, south and west of the central highlands. The map below highlights the geological basins. Groundwater is also found in the fractured rock of the highland areas, however the rate and volume of water that can be extracted is highly variable.