Equinor exploration program in Great Australian Bight has been revoked
March 6, 2020
Equinor decided to cancel its well exploration plan of drilling deep water Stromlo-1 offshore South Australia. The plan was approved in December 2019to be implemented By the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) and was supposed to be implemented from November to April 2021 or November to April 2022.
As informed by Equinor, “the project is not commercially competitive with other opportunities of this company”. Keith Pitt (Australian Minister for Resources, Water and Northern Australia) mentioned that “the decision was disappointing but the company would not leave Australia and will continue to be part of the Australian oil and gas industry.
