Reports
Sale
Australia Oil and Gas Upstream Market Size, Share, Trends: By Type: Oil and Gas Wells Drilling Services, Crude Oil, Oil and Gas Supporting Activities, Natural Gas; By Drilling Technology: Unconventional, Conventional, Others; By Production Site: Offshore, Onshore; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Australia Oil and Gas Upstream Market Outlook
The Australia oil and gas upstream market size was valued at USD 33.68 billion in 2023. The market is further projected to grow at a CAGR of 2.0% between 2024 and 2032, reaching a value of USD 40.49 billion by 2032.
Key Takeaways
- One of the notable developments in the Australian oil and gas upstream sector include the Browse Upstream Development, started in 2023 by Woodside Petroleum, which involves three gas fields with an estimated 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate.
- In 2020, Surat Gas Project in Queensland's on shore Surat Gas Basin was initiated, which focuses on coal seam gas production across 14 petroleum leases and was valued at approximately USD 7.15 billion. The Surat Gas Basin lies between Dalby and Wandoan, contributing to Australia’s upstream sector.
- Australia's significant proven oil reserves, reaching about 2.4 thousand million barrels, offer lucrative opportunities for market players.
The growth of the oil and gas upstream market is primarily driven by factors such as a large proven hydrocarbon resource base and the stability of government regulations. Some of the trends aiding the Australia oil and gas upstream market growth include the dominance of the offshore segment, which contributes significantly to petroleum production in Australia. Additionally, with government support, offshore exploration and production activities are expected to increase notably. However, Australia's shift towards renewable energy sources is likely to influence market dynamics during the forecast period.
Natural gas extraction comprises a significant Australia oil and gas upstream market share due to rising export price of liquefied natural gas, global demand for natural gas, and favourable government policies supporting the sector. Australia's production profile heavily focuses on exporting natural gas, with the country being a prominent global player in this sector. In January 2024, Australia exported 9,135 million cubic meters of LNG. The market for natural gas extraction in Australia is also driven by the increasing demand for cleaner energy sources, particularly in electricity generation.
In contrast, the crude petroleum segment within the Australia oil and gas upstream market plays a crucial role in meeting domestic energy needs and contributing to economic growth. The production of crude oil and condensate in Australia has experienced growth as in January 2024 , Australia produced approximately 450 million litres (ML) of crude oil. The country's reserves are primarily located in Western Australia, although substantial reservoirs are also present in other states like Queensland, South Australia, and the Northern Territory.
Unconventional drilling technologies, particularly horizontal drilling have gained prominence due to their ability to access hard-to-reach reserves efficiently. This technology allows for increased production rates and enhanced resource recovery compared to traditional vertical drilling methods. In Australia, horizontal drilling is utilised to tap into unconventional resources like shale gas and tight oil formations, contributing to the diversification of the country's energy sources.
Market Segmentation
Australia Oil and Gas Upstream Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Oil and Gas Wells Drilling Services
- Crude Oil
- Oil and Gas Supporting Activities
- Natural Gas
Market Breakup by Drilling Technology
- Unconventional
- Horizontal Drilling
- Others
- Conventional
- Vertical Drilling
- Others
Market Breakup by Production Site
- Offshore
- Onshore
Market Breakup by End Use
- Natural Gas Extraction Comprises
- Crude Petroleum Comprises
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Western Australia
- Australian Capital Territory
- Others
Competitive Landscape
Companies are leveraging the country's abundant natural resources and advanced exploration technologies to meet the energy demands of Australia and ensure a steady supply of oil and gas resources.
- Chevron Australia Pty Ltd.
- Shell Australia Pty Limited
- BP Australia Pty Limited
- Origin Energy Limited
- ExxonMobil Australia Pty Ltd.
- Woodside Energy Group Limited
- Santos Ltd.
- Beach Energy Limited
- INPEX Corporation
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Drilling Technology |
|
| Breakup by Production Site |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia Oil and Gas Upstream Market Overview
8.1 Key Industry Highlights
8.2 Australia Oil and Gas Upstream Historical Market (2018-2023)
8.3 Australia Oil and Gas Upstream Market Forecast (2024-2032)
9 Australia Oil and Gas Upstream Market by Type
9.1 Oil and Gas Wells Drilling Services
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Crude Oil
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Oil and Gas Supporting Activities
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Natural Gas
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 Australia Oil and Gas Upstream Market by Drilling Technology
10.1 Unconventional
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Horizontal Drilling
10.1.3.2 Others
10.2 Conventional
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Vertical Drilling
10.3 Others
11 Australia Oil and Gas Upstream Market by Production Site
11.1 Offshore
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Onshore
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Australia Oil and Gas Upstream Market by End Use
12.1 Natural Gas Extraction Comprises
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Crude Petroleum Comprises
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Australia Oil and Gas Upstream Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Chevron Australia Pty Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Shell Australia Pty Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BP Australia Pty Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Origin Energy Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ExxonMobil Australia Pty Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Woodside Energy Group Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Santos Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Beach Energy Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 INPEX Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Oil and Gas Upstream Market: Key Industry Highlights, 2018 and 2032
2. Australia Oil and Gas Upstream Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Australia Oil and Gas Upstream Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Australia Oil and Gas Upstream Historical Market: Breakup by Drilling Technology (USD Billion), 2018-2023
5. Australia Oil and Gas Upstream Market Forecast: Breakup by Drilling Technology (USD Billion), 2024-2032
6. Australia Oil and Gas Upstream Historical Market: Breakup by Production Site (USD Billion), 2018-2023
7. Australia Oil and Gas Upstream Market Forecast: Breakup by Production Site (USD Billion), 2024-2032
8. Australia Oil and Gas Upstream Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Australia Oil and Gas Upstream Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Australia Oil and Gas Upstream Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Australia Oil and Gas Upstream Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. Australia Oil and Gas Upstream Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 33.68 billion.
The market is expected to grow at a CAGR of 2.0% between 2024 and 2032.
The oil and gas upstream market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 40.49 billion by 2032.
The market is being driven due to favourable government policies, climate agendas, global demand for natural gas, and rising infrastructure development.
Key trends aiding the market expansion include energy transition and diversification, rising adoption of digitalisation and data analytics, emergence of hydraulic fracturing and unconventional resources, carbon management, and focus on emissions reduction.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Different technologies of drilling are unconventional (horizontal drilling, others) and conventional (vertical drilling, others).
Based on end use, the market segmentations include natural gas extraction comprises and crude petroleum comprises.
Oil and gas wells drilling services, crude oil, oil and gas supporting activities, and natural gas are considered in the report.
Key players in the market are Chevron Australia Pty Ltd., Shell Australia Pty Limited, BP Australia Pty Limited, Origin Energy Limited, ExxonMobil Australia Pty Ltd., Woodside Energy Group Limited, Santos Ltd., Beach Energy Limited, and INPEX Corporation, among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER