Posted: 11 October, 2016
BP Ditches Plans To Drill In The Great Australian Bight
BP has dropped plans to drill for oil in the Great Australian Bight.
The oil giant had planned to drill two wells in the Bight, but has decided not to proceed as it was no longer aligned with their current goals.
“This decision isn’t a result of a change in our view of the prospectivity of the region, nor of the ongoing regulatory process run by the independent regulator Nopsema. It is an outcome of our strategy and the relative competitiveness of this project in our portfolio,” Claire Fitzpatrick, BP’s managing director for exploration and production, Australia said.
“We have looked long and hard at our exploration plans for the Great Australian Bight but, in the current external environment, we will only pursue frontier exploration opportunities if they are competitive and aligned to our strategic goals. After extensive and careful consideration, this has proven not to be the case for our project to explore in the bight.”
The Wilderness Society has been leading a campaign against drilling in the Bight for years, and is very pleased with the result.
“Credit to BP for doing the right thing here and pulling out of this push to expand the fossil fuel industry,” Peter Owen of the Wilderness Society told Guardian Australia. “It’s a pristine marine wilderness area and a totally inappropriate place to be trying to turn into an oilfield.”