SEARCH FOR OIL

Press, Volume CVI, Issue 31083, 11 June 1966, Page 11

SEARCH FOR OIL

More Activity In Australia

(N.Z. Press Assn.—Copyright; CANBERRA, June 10.

The Australian Government’s Bureau of Mineral Resources yesterday predicted increased oil-drilling activity in Australia. In a statistical survey, the bureau said seismic field work increased 50 per cent last year, from 245 crew-months in 1964 to 368 crew-months in 1965. “A further increase in drilling may be expected in the future because the ultimate object of seismic work is to locate drilling sites,” it said.

The acting Minister for National Development (Mr L. H. E. Bury), releasing the report, said oil exploration in Australia and Papua-New Guinea had now cost private enterprise and the Government 370 m. Australian dollars or £l4Bm. He said the Commonwealth Government oil search subsidy was worth 10.4 m. Australian dollars (£4.16m.) last year.

Australia has three commercial oilfields—Moonie and Alton in Queensland, and Barrow Island in Western Australia. West Australian Petroleum Pty., Ltd., has begun a marine seismic survey in shoal areas off Barrow Island, off the north west coast of the state the company reported.

Under the West Australian Petoleum Act Wapet should have relinquished half its exploration area on conversion of the Barrow Island field to an oil lease, but the Government decided to give the other half back to the company in recognition of its contribution to the oil search in the state. The report said that Barrow Island’s number 26 well was coring at 6603 ft after gaining 2440 ft in the last week.