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Chevron abandons Great Australian Bight drill plans

Chevron abandons Great Australian Bight drill plans

Energy giant Chevron Friday joined BP in ditching plans to drill in the Great Australian Bight citing weak oil prices, with environmentalists urging other major players to follow suit.

British oil giant BP abandoned its plans to drill in the area last year after reviewing its global exploration programme.

"We appreciate the strong support from governments, regulators and the local community for our plans to explore for hydrocarbons offshore South Australia," he said in a statement.

But environmentalists cheered the move, with the Wilderness Society urging Norway's Statoil and other companies seeking to drill in the area to follow BP and Chevron's lead.

"Statoil, Santos, Murphy and Karoon will face the same massive costs and increasing community opposition that BP and Chevron experienced," said the society's South Australia director Peter Owen.

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