Treasurer Explodes Over $500 Million South Aussie Snub

Oct 13, 2017


State Treasurer Tom Koutsantonis slams Chevron’s decision to pull out of its $500 million plan to drill in the Great Australian Bight.

“Chevron’s decision is extremely disappointing,” Mr Koutsantonis has told The Advertiser. “What they have announced today is that they have spent the last five years wasting everybody’s time.”

“This has nothing to do with the prospectivity of The Bight and everything to do with internal competition for finance within Chevron.

“The Bight basin remains a prospective oil frontier for companies with the vision to explore this untapped region.

“Chevron won these blocks as part of a competitive process and we’ll be discussing all options with the Commonwealth Government about the steps required by Chevron to make good on its commitment and repair the damage done to their social licence to operate in this country.”