PRESS STATEMENT by the M inister for National Development and Energy A s

NATIONAL ENERGY ADVISORY COMMITTEE'S REPORT ON  "AUSTRALIA'S ENERGY RESOURCES - 1980" 2 7 .  S’- 8 /

81/54

The Minister for National Development and Energy, Senator J.L. Garrick, said that the National Energy Advisory

Committee's (NEAC) report on "Australia's Energy Resources -  1980" (released today) reveals a major upgrading of Australia's

identified (demonstrated plus inferred) resources of crude oil,  natural gas, black coal and uranium. The Report brings .

up to date data previously published in NEAC Report No. 2 in

1977.

Cooperation with the State bodies responsible for resource

assessment such as the State Electricity Commission of Victoria  as well as the Joint Coal Board, the Australian Atomic Energy

Commission and the Bureau of Mineral Resources have been  invaluable in preparing both this Report and its predecessor,.   Report No. 2, which has proved to be a most useful compendium

of information on Australia's energy resources.  ,

Since the preparation of the 1977 Report, Australia’s  identified economic recoverable resources of black coal and  natural gas have doubled and identified economic recoverable  resources of crude oil/condensate and uranium have increased

by approximately 20 per cent and 50 per cent respectively.

These increases are a measure of the success of the Commonwealth  Government's initiatives to encourage exploration, improve the  outlook for development and, commercial usage of indigenous Â·   energy resources and reduce Australia's dependence on imported

crude.

The Report makes it clear that there is a good prospect of .   finding additional uranium and coal resources and since the  1980 Report -was completed several promising oil and'gas Â·

discoveries (most notably in theÂ· Canning and Cooper Basins)

ÃÂ

have been announced. It is generally agreed that we can

.4 expect further significant.  discoveries across a broad spectrum

Ã¢ÂÂ   "  .  "  1  "  '

Of energy resources.

Ã¢ÂÂ  2 . '

Enquiries:  Mr J.B. Carter .  (062) 458322 BH

(062) 584465 AH

Canberra

27 August 1981

