Chapter 2: History of petroleum exploration and development - PIRSA

Petroleum geology of South Australia. Vol. 4: Cooper Basin.Aeromagnetic–radiometric survey aircraft flying over the Moombagas and liquids processing plant in August 1993 during a 1810 km 2survey over the Cooper, Eromanga and Warburton Basins. (Photo41483)Gidgealpa and Moomba, came from the Cooper Basin andconsequently the dominant focus in the northeast of SouthAustralia has been on the Cooper Basin. The shift inperception about the prospectivity of the Eromanga Basinthat had occurred by the mid 1980s, however, reduced thefocus on the Cooper Basin although follow-up explorationprograms specifically targeted oil and gas reserves in bothbasins.While the expiry in February 1999 of PELs 5 and 6 willbring to a close an important chapter in the history ofpetroleum exploration in Australia, the story will not endthere. The hydrocarbon reserves of the Cooper Basin nowservice the natural gas needs of South Australia, New SouthWales, the Australian Capital Territory and southeastQueensland. There is significant potential for furtherdiscoveries in the South Australian sector of the basin. Theregion is the hub of a major gas production, processing andtransmission system and new sources of hydrocarbons canbe produced locally and taken onto the local, interstate andinternational markets expeditiously through theinfrastructure in place at Moomba and Port Bonython.Competition for the portions of the Cooper Basin outside thePPLs will offer a rare opportunity to explorers as they willhave the opportunity to negotiate access to establishedinfrastructure and markets, the advantage of proven playconcepts in an area with high wildcat discovery rates, andaccess to detailed data and a State Government administrationwith a proven track record of facilitation ofresponsible petroleum exploration and development (Laws,1997).The visions of the small, brave optimists of the 1950shave been more than matched by the successful oil and gasexploration and development in the Cooper Basin. Asalways, some things could have been done differently; therates and types of successes and failures might have beenconfigured in other ways; personalities, politics and projectsmight have taken different paths and so on. For all of itsquirks and foibles, however, the story of exploration anddevelopment in the Cooper Basin is a highlight in SouthAustralia’s natural resource achievements and the region hasbrought great benefits to the Producers and to SouthAustralia.36