The total crude oil and condensate production of Oceania decreased by 23.92% in 2023 when compared with 2022. 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 5.67%. 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 2023, Australia had the highest crude oil production, followed by Papua New Guinea and New Zealand. Here are the 10 largest crude oil fields in Oceania by production in 2023, according to GlobalData’s Oil & Gas, Upstream Fields Database.
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1. Van Gogh
Van Gogh is located in Western Australia, Australia. This crude oil field is owned by Inpex Corp (47.50%), Santos Ltd (52.50%) and operated by Santos WA PVG Pty Ltd. The field produced 0.03mmbpd in 2023 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 2083. Buy the profile here.
2. Vincent
Vincent is located in Western Australia, Australia. This crude oil field is owned by Mitsui & Co Ltd (40.00%), Woodside Energy Group Ltd (60.00%) and operated by Woodside Energy Group Ltd. The field produced 0.02mmbpd in 2023 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 2070. 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 Ltd (40.00%), Woodside Energy Group Ltd (60.00%) and operated by Woodside Energy Group Ltd. The field produced 0.01mmbpd in 2023 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 2055. . Buy the profile here.
4. Gippsland
Gippsland is located in Victoria, Australia. This crude oil field is owned by Exxon Mobil Corp (50.00%), Woodside Energy Group Ltd (50.00%) and operated by Esso Australia Resources Pty Ltd. The field produced 0.01mmbpd in 2023 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 condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2044. Buy the profile here.
5. Okha Complex
Okha Complex is located in Western Australia, Australia. This crude oil field is owned by Chevron Corp (16.67%), Jadestone Energy Inc (16.67%), Mitsubishi Corp (8.34%), Mitsui & Co Ltd (8.34%), Woodside Energy Group Ltd (49.99%) and operated by Woodside Energy Group Ltd. The field produced 0.02mmbpd in 2023 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 2035. Buy the profile here.
6. Laverda Canyon
Laverda Canyon is located in Western Australia, Australia. This crude oil field is owned by Mitsui & Co Ltd (40.00%), Woodside Energy Group Ltd (60.00%) and operated by Woodside Energy Group Ltd. The field produced 0.01mmbpd in 2023 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 2055. Buy the profile here.
7. Pyrenees
Pyrenees is located in Western Australia, Australia. This crude oil field is owned by Santos Ltd (28.57%), Woodside Energy Group Ltd (71.43%) and operated by Woodside Energy (Australia) Pty Ltd. The field produced 0.01mmbpd in 2023 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 2046. 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 Corp (26.80%), JX Nippon Oil & Gas Exploration Corp (6.61%), Kumul Petroleum Holdings Ltd (11.30%), Marubeni Corp (1.69%), Mineral Resources Development Co Ltd (4.10%), Santos Ltd (49.50%) and operated by Oil Search (PNG) Ltd. The field produced 0.01mmbpd in 2023 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 2045. Buy the profile here.
9. Bauer
Bauer is located in South Australia, Australia. This crude oil field is owned by Beach Energy Ltd (100.00%) and operated by Beach Energy Ltd. The field produced 0mmbpd in 2023 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 2025. Buy the profile here.
10. Barrow Island
Barrow Island is located in Western Australia, Australia. This crude oil field is owned by Chevron Corp (57.14%), Exxon Mobil Corp (14.29%), Santos Ltd (28.57%) and operated by Chevron Australia Pty Ltd. The field produced 0mmbpd in 2023 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. Buy the profile here.
For more details on the upstream fields, buy the profiles here.
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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.
