"Ten years of oil production left".

Australasian Business Intelligence, March, 2002

Mar 7, 2002 (The Daily Telegraph

ABIX via COMTEX) -- Woodside Petroleum's CEO, John Akehurst, has called for urgent action to improve Australia's self-sufficiency in crude oil. On 6 March 2002, Akehurst indicated that unless urgent action is taken, domestic supplies of crude oil in Australia will fall to 40 per cent of overall demand by 2010, from the present level of 80 per cent. The proven supplies of oil in Australia would last 10 years at current annual production. Akehurst has called on the Australian Government to review the resources rent taxation regime so that exploration for new oil fields in new basins and in deep water would be encouraged.

WOODSIDE PETROLEUM LIMITED - ASX WPL: AUSTRALIAN BUREAU OF AGRICULTURAL

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