The South Australian Business Chamber Executive Director of Industry and Government Engagement Anthony Penney said it was disappointing for South Australia that two oil and gas giants, BP and Chevron, had both abandoned their plans over the past year, but economic conditions had not been conducive for either company.
“We encourage BP, Chevron and every other gas exploration company to consider returning to the Bight when economic conditions improve, and to keep South Australia on their radar,” Mr Penney said.
“We believe there is potential in the Great Australian Bight, and the South Australian community, particularly West Coast businesses, would benefit from an offshore petroleum industry being established in the state.
“We urge them to keep the lines of communication open with the South Australian Government, to facilitate a return in the future.”
Chevron had planned to drill four wells in a $400 million exploration plan off South Australia’s West Coast, recognising the Bight’s massive potential.
The company has said that its decision had nothing to do with government policy, environmental or community concerns, or regulatory hurdles.
Mr Penney said while today’s decision was disappointing, South Australia needed to encourage all types of companies to continue exploring options to do business here.
“We cannot afford to alienate international investors and other businesses from considering investments here, even if such investments may not occur now due to factors beyond our control,” he said.
