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Report Overview
The Australia oil and gas market size is estimated to be valued at 161.74 thousand barrels in 2025. It is expected to grow at a CAGR of 1.30% between 2026 and 2035 to reach almost 184.04 thousand barrels by 2035.
- According to Resources Victoria, it is estimated recently that in Bass Strait, there are approx. 23 offshore platforms.
- According to Resources Victoria, it is estimated recently that in Bass Strait, there are approx. 23 offshore platforms.
- As per the ABS, offshore petroleum exploration rose from 101.4 $m in June 2023 to 109.0 $m in September 2023.
Compound Annual Growth Rate
1.3%
Value in thousand barrels
2026-2035
Based on type, the Australia oil and gas market share is led by the downstream stage of oil and gas production as it increases the profitability for oil and gas companies due to the conversion into higher-value products by the refining of crude oil into various petroleum products
The regulatory standards of petroleum products are maintained by this process and the reduction of emissions and efficiency improvement is being guided by the technological innovation in the refining processes. The storage and transportation of petroleum products in the midstream stage helps in times of crisis and the movement of oil and gas to the refineries from the production sites takes place efficiently by the midstream pipelines.
The trends and innovations driving the Australia oil and gas market development include the increase in optimization of production and exploration processes over the years due to innovations in drilling techniques, and seismic imaging among others. Moreover, the production of energy-efficient equipment and technologies by the oil and gas companies is helping to reduce operational costs.
"Australia Oil and Gas Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Upstream
- Midstream
- Downstream
Market Breakup by Drilling Type
- Onshore
- Offshore
Market Breakup by Application
- Industrial
- Residential
- Commercial
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
For instance, in 2023, Beach Energy announced the delivery of gas to the Australia East Coast gas market and connected the offshore Otway Basin to the Otway Gas Plant.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
The market was valued at 161.74 thousand barrels in 2025.
The market is expected to reach 184.04 thousand barrels in 2035.
The oil and gas market is growing with an increase in the development of energy-efficient equipment and exploration technologies.
Based on the type, the oil and gas market is bifurcated into upstream, midstream and downstream.
Key players in the Australia oil and gas industry are ExxonMobil Australia Pty Ltd., BP Australia Pty Ltd., Woodside Energy Group Limited, Shell Energy Operations Pty Ltd., Santos Ltd., Origin Energy Limited, Beach Energy Limited, Cooper Energy Limited, and Chevron Australia Pty Ltd. among others.
Based on drilling type, the oil and gas market is divided into onshore and offshore.
The different applications of oil and gas include industrial, residential, and commercial.
The market is broken down into New South Wales, Victoria, Queensland, the Australia Capital Territory, Western Australia, and others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| Report Features | Details |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Drilling Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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