The company said today its decision was based on economics, and not the ongoing regulatory battles the company has had.
The Australian programme would not be able to compete for capital investment with other upstream opportunities in its global portfolio in the foreseeable future, said the UK major.
“We have looked long and hard at our exploration plans for the Great Australian Bight but, in the current external environment, we will only pursue frontier exploration opportunities if they are competitive and aligned to our strategic goals.
