TECTONIC CONTROL OF WORLD OIL RESERVES: AUSTRALIA'S POSITION

Abstract

Although simple extensional clay models may be representative of grabens tens of kilometres in length, rotational divergence of continents on a sphere produces very different structures. Repeated periods of compression during separation result in wrench faults and compressional anticlines developing along major crustal fractures as a consequence of changes in momentum between a continent and adjacent smaller continental blocks along its rifted margin.

The global distribution of rotationally divergent continental margins can be accounted for by asymmetric expansion of the earth. The southern bulge caused by expansion has emphasised non-marine deposition on southern continents with marine deposition more common in the northern hemisphere.

Phanerozoic source rocks of the northern hemisphere account for 97 per cent of the world's produced and current reserves of oil. Australia's share of this extreme distribution asymmetry is less than one half of one per cent, yet the country covers five per cent of the Earth's continental crust.

The proportion of undiscovered oil reserves outside OPEC and the former USSR is approximately 30 per cent, or some 12 per cent of the world's estimated ultimately recoverable reserve of 2 trillion (Tera) barrels. The majority of Australia's undiscovered reserves lie on the North West Shelf where about 12 per cent of the country's estimated ultimately recoverable reserve could be found.

Although Australia is politically stable, lower petroleum taxes would attract exploration for smaller, structurally complex oil fields. While such taxes may be considered politically difficult at present, a by-product of concerted oil exploration would be an enormous increase in Australia's gas reserves to feed the national pipeline grid for the 21st century. Industry can assist increased success rates by greater attention to current technical deficiencies, such as the structural interpretation of seismic lines.