Seventy acreage grants were awarded in Australia during 2017, with net acreage increasing in the Canning, Bonaparte and Perth basins. More broadly, the area under licence within Australia has been reducing since 2014 and this trend continued with a reduction of just over 100 000 km2.
Both 2D and 3D seismic acquisition levels decreased within Australia during 2017, on an absolute and on a percentage of worldwide basis.
An uptick in exploratory drilling occurred in 2017 with the highest levels since 2014 being reached. Exploratory drilling levels in Australia also increased, in percentage terms, compared with those globally.
Discovered volumes exhibited a sharp decrease with a total of 22 MMboe recoverable reserves added across 14 fields.
In 2018, exploration activity is expected to increase with key wells planned in the North Carnarvon and Roebuck basins.
Optimization on the High Precision 3D Seismic Acquisition Parameters in Leijia Tight Sandstone Oil Area