Australian LNG up, but oil production down

April 3, 2008 at 2:03 PM
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SYDNEY, April 3 (UPI) -- Australia's liquefied natural gas production rose 8 percent in 2007.

New numbers released by the Australian Petroleum Production and Exploration Association Ltd. said last year LNG production hit 699.6 billion cubic feet.

"The strong growth in LNG production is primarily as a result of increased production at the ConocoPhillips operated Darwin LNG project," APPEA Chief Executive Belinda Robinson said. "This plant commenced operations in the first quarter of 2006."

APPEA's statistics also revealed a marginal decrease in crude oil production and a continued rise in gas sales. This could be because Australia also saw a nearly 70 percent increase in the cost of drilling for oil, slowing the industry down.

Crude oil production in 2007 was 120 million barrels, down 3 percent from the previous year. Combined crude, condensate and liquefied petroleum gas production was 196.7 million barrels, down 1 percent.

"The slight decline in liquids production can largely be attributed to a combination of shutdowns on significant producing assets and natural field decline," Robinson said.

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