Australia Oil and Gas Market Update

Main Update Highlights from entire month of June, 2013

WOODSIDE Petroleum has agreed to buy controlling stakes in about a dozen deepwater oil and
gas exploration blocks off the coast of Ireland, as the Australian company expands offshore to offset
slow progress on planned developments at home.

CHINA National Offshore Oil Corp, known as CNOOC, and Royal Dutch Shell are among
companies that have committed to spend at least $180 million over the next three years searching for
new oil and gas deposits in Australia.

THE shale oil and gas revolution that has transformed global energy markets is on its way to
Australia. But according to the US Department of Energy, the industry is only likely to develop at a
“moderate pace” in Australia because the nation’s shale oil and gas resources are far away from the sort
of infrastructure that has underpinned the US production boom.

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