Three Australian states have been ranked among the 10 least attractive jurisdictions for oil and gas investment, according to a new survey by the Frasier Institute.

Victoria, New South Wales and Tasmania joined Venezuela, Yemen, Libya, Iraq, Ecuador, Bolivia and Indonesia as the 10 jurisdictions with the greatest barriers to investment.

The Frasier Institute noted that New South Wales had experienced a six-point deterioration to its score, while Victoria dropped 14 points since 2017 and Tasmania saw a decline of 23 points since it was last included in the annual survey in 2015.