UK supermajor BP this week said it had abandoned plans for exploration drilling in the Great Australian Bight off South Australia — a decision that has been heralded by environmental lobby groups.
However, the operator maintains that its decision is purely commercial and that the company intends to focus on projects that could deliver in the medium term.
BP had been awaiting environmental approval to drill two wildcats about 300 kilometres off Ceduna, South Australia, after having several times failed to get the green light from the National Offshore Petroleum Safety and Environment Management Authority (Nopsema).
“This
