Equinor cancel plans to drill for oil in Great Australian Bight

NORWEGIAN drilling company Equinor announced earlier today it is abandoning its plans to drill for oil in the Great Australian Bight due to commercial reasons.

Equinor country manager for Australia Jone Stangeland said the company’s decision was due to financial reasons.

“The approval of the Stromlo-1 exploration well Environment Plan confirmed our ability to safely operate in the Bight.

“However, Equinor has decided to discontinue its plans to drill the Stromlo-1 exploration well, as the opportunity is not commercially competitive.”

Over the past few years, several “Fight for the Bight” protests have been held in Torquay and across Australia’s coast, as various communities showed their opposition to Equinor’s planned drilling.

Despite these concerns, in December 2019 the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) granted Equinor permission to drill for oil in the bight.

For more, see Thursday’s Surf Coast Times.