Australia gets bigger and richer
Phillip Coorey Chief Political Correspondent
April 22, 2008
THE (Australian) Federal Government has forecast a "potential bonanza" of oil and gas riches following a decision by the United Nations to grant Australia an extra 2.5 million square kilometres in land - all of it under the sea.
The Resources and Energy Minister, Martin Ferguson, announced yesterday that Australia's jurisdiction over the Continental Shelf in nine areas around the mainland and in the sub-Antarctic had been expanded beyond the existing 200 nautical mile limit.
"I am pleased to announce that Australia, the largest island in the world, has just been dramatically increased in size," Mr Ferguson said.
Although Australia will soon be able to lay claim to the oil, gas and any other deposits under the new territory, it will have no control over the waters above.
Therefore, Mr Ferguson said, Australia would not be able to police shipping, fishing or whaling in the waters above the expanded territory.
But the decision still opened up "a wealth of exploration entitlements", he said. "This is potentially a bonanza; we have unknown capacity out there."
"The truth of the matter is that they have been hardly explored. There has been some exploration in terms of gas."
[more]
A map of the new Australian territory here.
FYI - 2.5 million square kilometres is an area five times the size of France, 10 times the size of New Zealand, and 20 times the size of the United Kingdom.





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