ENB Pub Note: Australia’s oil and gas market is not a good investment. The political and environmental activists make it difficult, and only hurt the country, the environment, and add costs to the consumers.
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Declining Oil Output: Australia’s crude oil production is projected to fall at a CAGR of -4.19% through 2030, making it a net oil importer despite domestic production.
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LNG Dominance: Gas production, particularly offshore, underpins Australia’s role as a top LNG exporter, with $96 billion in industry revenue in 2025.
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Environmental Pressures: Both onshore and offshore face scrutiny, with onshore causing habitat loss and offshore risking marine spills. Carbon capture and renewable integration are mitigating impacts.
Perth-based OSV operator MMA Offshore, a subsidiary of Cyan Renewables, has won a multi-year platform supply vessel contract from Chevron in Australia.
The contract was awarded to the 2015-built high-specification PSV MMA Plover. It will provide marine logistics support to Chevron’s Barrow Island and Wheatstone assets, located off the coast of Western Australia.
The assets are critical producers of natural gas for Western Australia and LNG for the Asia Pacific region, and home to one of the world’s largest carbon capture and storage systems.
The vessel will undergo an extensive modification program, enabling it to carry up to 90 teu (20 ft-equivalent unit sea containers). Featuring advanced technologies such as high-performance hull coatings, which reduce biofouling and, therefore, increase fuel efficiency, the vessel contributes to emissions reduction.
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