This area has now become the principal centre of oil production. The industry in Australia is internationally integrated and competitive. International studies indicate that Australia's petroleum taxation regime compares more than favourably with that of most other countries. Australia's sophisticated legal framework, petroleum tenement system and investment environment is conducive to development. The Australian petroleum industry has the commitment and skills to sustain and improve its position in an environmentally responsible manner.
Petroleum production is a key contributor to Australia's economy and trade.
Australia continues to offer highly attractive and diverse opportunities for investment in petroleum exploration and development. Sedimentary rocks underlie about 4.3 million square kilometres, about one half of the land area of Australia, and another 2 million square kilometres of the continental shelf. Back to the top Coal Australia is the world's largest exporter of black coal, a position it has held since 1984, exporting 166.6 million tonnes in 1998. Australia has substantial reserves of both metallurgical and thermal coals with more than 77 billion tonnes of economically recoverable reserves of black coal identified to date. Australian coal is exported to 43 countries around the world.