Federal Member for Grey Rowan Ramsey said Norwegian-based energy company Equinor’s decision to discontinue its exploration program in the Great Australian Bight is a commercial decision and while it is disappointing to lose the opportunities this would have provided it is up to Equinor to decide what is best for their company.
“The company has decided the economics of the project don’t stack up and while some will be very pleased with this announcement for many others, particularly a number of Eyre Peninsula communities, the withdrawal of Equinor will come as a disappointment,” he said.
“Communities had held high hopes the project would provide jobs and economic growth to the region.
“While Equinor did not find any fault with the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) who set their drilling regulations, people should be assured that the NOPSEMA has proved to be a very effective, scientifically driven and independent organisation which will continue to ensure that any off-shore exploration in Australian waters is done safely.
“I thank Equinor for their transparency and the way they have worked to engage stakeholders since they were first granted the exploration permit in 2011.
“While this project is now off the table we have many reasons to remain optimistic for our region with a number of other exciting proposals circulating at the moment.”
Media Contact Leonie Lloyd-Smith 08 8633 1744
February 25 2020