|
|
Article: GEOSCIENCE AUSTRALIA FUNDING TO BOOST OIL INVESTMENT: APPEA.
- Article from:
- AsiaPulse News
- Article date:
- May 14, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PERTH, May 14 Asia Pulse - New funding allocations for Geoscience Australia will boost Australia's appeal as a destination for petroleum investment, according to an oil industry lobby group.
The Australian Petroleum Production and Exploration Association (APPEA) today the biggest beneficiaries will be the country's emerging deepwater and remaining frontier acreage prospects.
In last night's federal budget, Geoscience Australia received additional funding of A$61 million (US$39.44 million).
APPEA said the funds will restore the base funding of the agency (A$36 million over four years) and add additional funding (A$25 million over four years) for ...