Environmentalists have long contested drilling in the Bight
Great Australian Bight closes for business
Santos joins the list of developers to withdraw from the region, deeming it too risky
The Great Australian Bight, once seen as a promising frontier deepwater exploration acreage, is effectively closed for business after the last deep-pocketed developers pulled out in July. Australian independent Santos announced in mid-July that its joint venture with US peer Murphy Oil had relinquished its 16,525km² exploration permit in the Bight. Santos owned 80pc of EPP43 and Murphy the remaining 20pc. They follow BP, Chevron and Norway’s Equinor in deeming the play too risky. The three firms abandoned their exploration plans for the Bight in 2016, 2017 and 2020 respectively. Environmental campaigners have long contested drilling in the Bight, which lies off the central and western portio
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
