"The enthusiasm of these companies to invest such large sums demonstrates both the attractiveness of Australia as a location for investment, and the highly prospective nature of our petroleum areas " Minister Ferguson sdid. "It is also encouraging to see the entry of new explorers to the Australian market This heightens our expectations of greater exploration activity now and in the future, and improves the chance of a new discovery being made" "With only about a decade of known oil resources remaining at today's production rates, Australia is looking down the barrel of a 25 billion dollars trade deficit in petroleum products by 2015."
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