Gippsland

Commentary

While the onshore portions of the Basin are likely to face headwinds due to the Australian regulatory environment, the outlook for offshore remains buoyant.

Updated

June 18, 2024

Location

Description

The AGB is located in south-eastern Australia, 200km east of Melbourne. It covers 46,000 sq. km, two-thirds of which is located offshore, where several giant oil and gas fields were discovered in the late 1960s. The Basin is bounded to the north by Palaeozoic basement of the Eastern Uplands, to the west by uplifted Lower Cretaceous fault-blocks and to the southwest by the Bassian Rise, a Palaeozoic basement feature which separates it from the Bass Basin to the southwest. More than 400 exploration wells have been drilled in the AGB, ~90,000km of 2D and more than forty 3D seismic surveys have been acquired. Exploration within the AGB is mature in comparison to many other Australian basins, but it remains relatively underexplored offshore, particularly around the Bass Canyon.

Summary

While having a long exploration history, there remains significant exploration upside as the Basin is relatively under explored.