A new report undertaken by advisory firm Wood Mackenzie (WoodMac) on behalf of the Australian Petroleum Production and Exploration Association (Appea) has found that Australia’s upstream oil and gas industry needs long-term regulatory stability to create attractive investment opportunities for the sector and maintain industry’s strong economic contribution.
The report highlighted the industry’s success from 2009 to 2012 was predicated on relatively few regulatory and fiscal changes in the previous decade, which provided a strong foundation for a wave of unprecedented investment.