Petroleum Developments in Southwest Pacific Region During 1962

Abstract

The year 1962 marked the development of the first commercial oil field in Australia, at Moonie, Queensland. The Compagnie Francaise des Petrole has undertaken exploration of 2 areas in the Great Artesian Basin adjacent to the South Australian, Northern Territory, and Queensland borders. The Commonwealth Government continued to support exploration by subsidy payments but reduced the amount from 50% to 30%. Developments in Queensland, New South Wales, Victoria, South Australia, Northern Territory, Western Australia, and New Zealand are discussed. Tables list wells drilled in 1962, and geophysical surveys undertaken by the various oil companies.