The total crude oil and condensate production of Oceania in 2022 was 0.17mmbpd, a decrease of 8.86% when compared to 2021. The largest oil producing countries in Oceania are Australia, Papua New Guinea, and New Zealand. Through to 2030, annual crude oil and condensate production is forecasted to decrease by a CAGR of 10.53% to reach 0.07mmbpd. GlobalData uses proprietary data and analytics to provide a complete picture of the global oil & gas fields segment. Buy the latest oil & gas fields profiles here.
In 2022, Australia had the highest crude oil production at 0.16mmbpd, followed by Papua New Guinea at 0.01mmbpd and New Zealand at 0.005mmbpd. Here are the 10 largest crude oil fields in Oceania by production in 2022, according to GlobalData’s Oil & Gas, Upstream Fields Database.
1. Van Gogh
Van Gogh is located in Western Australia, Australia. This crude oil field is owned by Inpex (47.50%), Santos (52.50%) and operated by Santos WA PVG. The field produced 0.04mmbpd in 2022 and recovered 43.65% of its total recoverable crude oil and condensate reserves, with peak production in 2019. The peak production was approximately at 0.04mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2068. The field currently accounts for approximately 1.42% of the total Oceania daily crude oil and condensate output and it is expected to recover 127.05mmbbl of crude oil and condensate. Buy the profile here.
2. Vincent
Vincent is located in Western Australia, Australia. This crude oil field is owned by Mitsui & Co (40.00%), Woodside Energy Group (60.00%) and operated by Woodside Energy Group. The field produced 0.02mmbpd in 2022 and recovered 49.43% of its total recoverable crude oil and condensate reserves, with peak production in 2012. The peak production was approximately at 0.03mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2068. The field currently accounts for approximately 0.9% of the total Oceania daily crude oil and condensate output and it is expected to recover 100.57mmbbl of crude oil and condensate. Buy the profile here.
3. Norton over Laverda
Norton over Laverda is located in Western Australia, Australia. This crude oil field is owned by Mitsui & Co (40.00%), Woodside Energy Group (60.00%) and operated by Woodside Energy Group. The field produced 0.02mmbpd in 2022 and recovered 33.99% of its total recoverable crude oil and condensate reserves, with peak production in 2020. The peak production was approximately at 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2053. The field currently accounts for approximately 0.67% of the total Oceania daily crude oil and condensate output and it is expected to recover 47.92mmbbl of crude oil and condensate. Buy the profile here.
4. Gippsland
Gippsland is located in Victoria, Australia. This crude oil field is owned by Exxon Mobil (50.00%), Woodside Energy Group (50.00%) and operated by Esso Australia Resources. The field produced 0.02mmbpd in 2022 and recovered 98.92% of its total recoverable crude oil and condensate reserves, with peak production in 1985. The peak production was approximately at 0.49mmbpd of crude oil and conde9nsate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2048. The field currently accounts for approximately 0.65% of the total Oceania daily crude oil and condensate output and it is expected to recover 45.12mmbbl of crude oil and condensate. Buy the profile here.
5. Okha Complex
Okha Complex is located in Western Australia, Australia. This crude oil field is owned by Chevron (16.67%), Jadestone Energy (16.67%), Mitsubishi (8.34%), Mitsui & Co (8.34%), Woodside Energy Group (49.99%) and operated by Woodside Energy Group. The field produced 0.02mmbpd in 2022 and recovered 87.72% of its total recoverable crude oil and condensate reserves, with peak production in 2002. The peak production was approximately at 0.12mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2044. The field currently accounts for approximately 0.63% of the total Oceania daily crude oil and condensate output and it is expected to recover 70.22mmbbl of crude oil and condensate. Buy the profile here.
6. Laverda Canyon
Laverda Canyon is located in Western Australia, Australia. This crude oil field is owned by Mitsui & Co (40.00%), Woodside Energy Group (60.00%) and operated by Woodside Energy Group. The field produced 0.01mmbpd in 2022 and recovered 32.71% of its total recoverable crude oil and condensate reserves, with peak production in 2020. The peak production was approximately at 0.01mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2054. The field currently accounts for approximately 0.45% of the total Oceania daily crude oil and condensate output and it is expected to recover 33.69mmbbl of crude oil and condensate. Buy the profile here.
7. Pyrenees
Pyrenees is located in Western Australia, Australia. This crude oil field is owned by Santos (28.57%), Woodside Energy Group (71.43%) and operated by Woodside Energy (Australia). The field produced 0.01mmbpd in 2022 and recovered 94.79% of its total recoverable crude oil and condensate reserves, with peak production in 2010. The peak production was approximately at 0.07mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2027. The field currently accounts for approximately 0.33% of the total Oceania daily crude oil and condensate output and it is expected to recover 7.35mmbbl of crude oil and condensate. Buy the profile here.
8. Greater Moran Unit
Greater Moran Unit is located in Southern Highlands, Papua New Guinea. This crude oil field is owned by Exxon Mobil (26.80%), JX Nippon Oil & Gas Exploration (6.61%), Kumul Petroleum Holdings (11.30%), Marubeni (1.69%), Mineral Resources Development Co (4.10%), Santos (49.50%) and operated by Oil Search (PNG). The field produced 0.01mmbpd in 2022 and recovered 80.11% of its total recoverable crude oil and condensate reserves, with peak production in 2007. The peak production was approximately at 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2046. The field currently accounts for approximately 0.26% of the total Oceania daily crude oil and condensate output and it is expected to recover 24.78mmbbl of crude oil and condensate. Buy the profile here.
9. Bauer
Bauer is located in South Australia, Australia. This crude oil field is owned by Beach Energy (100.00%) and operated by Beach Energy. The field produced 0.005mmbpd in 2022 and recovered 86.08% of its total recoverable crude oil and condensate reserves, with peak production in 2020. The peak production was approximately at 0.01mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2036. The field currently accounts for approximately 0.18% of the total Oceania daily crude oil and condensate output and it is expected to recover 5.2mmbbl of crude oil and condensate. Buy the profile here.
10. Barrow Island
Barrow Island is located in Western Australia, Australia. This crude oil field is owned by Chevron (57.14%), Exxon Mobil (14.29%), Santos (28.57%) and operated by Chevron Australia. The field produced 0.005mmbpd in 2022 and recovered 98.08% of its total recoverable crude oil and condensate reserves, with peak production in 1970. The peak production was approximately at 0.05mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2027. The field currently accounts for approximately 0.18% of the total Oceania daily crude oil and condensate output and it is expected to recover 6.65mmbbl of crude oil and condensate. Buy the profile here.
For more details on the upstream fields, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
