For further information on the Oil and Gas industry in Australia, please contact Commercial Specialist Kate Wilkie, U.S. Commercial Service Melbourne on Tel: (+61-3) 9526-5927, Fax: (+61-3) 9510-4660, Email: Kate.Wilkie@N0SPAM.mail.doc.gov

Overview

Australia is a net consumer of oil and gas equipment and imports much of its technology used in upstream projects. Australia continues to be a good market for U.S. oil and gas equipment suppliers. U.S suppliers maintain a reputation for high quality products, safety and reliability.

Even though the industry is likely to contract over the short term as a result of the current world economic crisis, it will remain stable over the long term due to the sound financial position of its major players and a continued interest to locate and develop new oil and gas fields. The contraction will also result in larger oil and gas companies acquiring smaller companies that are struggling against falling oil prices and a tight capital market leading to fewer purchases over the short term.

Australia’s increased LNG gas production has grown to meet both domestic and offshore demand. Greater consumption in the Asia-Pacific region and increased pressure on power generators to burn cleaner alternatives increased demand. There is also demand for machinery technologies that prolong the life of wells and assist in the secondary and tertiary recovery.

Into 2009, there were approximately USD100 billion of projects under construction or into the advanced stages of planning. Replacement and restoration of existing machinery and infrastructure will continue. In 2007, over 70 percent of oil and condensate production and approximately 55 percent of gas production came from Western Australia (WA), the majority from offshore sites.

Best Products/Services

Australia is focused on deep water, offshore gas exploration and development. As such, there is strong demand for related technology such as: sub-sea connections, unmanned platforms, and Floating Production, Storage, and Offloading (FPSO). There is also keen interest in operational safety technology.

Opportunities

A list of proposed major oil and gas projects can be obtained by emailing Kate Wilkie at: kate.wilkie@N0SPAM.mail.doc.gov )

Trade Events

AOG 2009 / AUSTRALASIAN OIL & GAS
Date: 17-19 February 2009
Location: Perth Convention & Exhibition Centre, WA
Website: http://www.aogexpo.com.au/

AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION (APPEA) CONFERENCE & EXHIBITION
Date: 31 May – 3 June 2009
Location: Darwin Convention Centre, Darwin, The Northern Territory
Website: http://www.appeaconference.com.au/
   
SOUTH EAST ASIA OFFSHORE CONFERENCE
Date: 9-11 September 2009
Location: Darwin Convention Centre, Darwin, The Northern Territory
Website: http://www.seaaoc.com