Related Articles
Forward article link
Share PDF with colleagues

Challenges ahead for Australia’s mature assets

Competition for a shrinking pool of capital may put the country’s older offshore oil and gas fields on the back foot in the coming years

Australia has long promoted itself as a low-risk investment destination, which has made it attractive to developers looking to add low-risk, end-of-life production assets to their portfolios. But the collapse of two high-profile sales in recent months, coupled with increasing regulatory scrutiny over abandonment and decommissioning obligations, suggest the sector is in for leaner times. Aborted processes ExxonMobil and Italy’s Eni have both shelved plans to divest stakes in mature offshore assets. Eni put plans to offload its Australia holdings, estimated to be worth c.$1bn, on pause in January, reportedly after receiving offers far short of its expectations. The company owns stakes in a ran



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Gulf of Guinea piracy worsens
5 March 2021
Maritime regulators and the shipping industry issue warnings over escalating frequency, severity and range of pirate attacks
Latin America plays catch-up
4 March 2021
The pandemic wreaked havoc on NOC balance sheets in 2020, but the region still has some competitive advantages
Neptune sees Dutch North Sea potential
4 March 2021
The province may be mature, but still has elements to attract investment and shake off PR problems
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video