50-Year-Old Australia Oil Fields Spurned in Cheap Crude AgeBy and
Exxon and BHP examine plans to sell Gippsland Basin assets
Australia oil output fell by more than half since peak in 2000
They’re among the oldest oil fields in Australia still in production. Now they are proving superfluous to some of the world’s biggest producers that are purging high-cost assets to weather crude’s collapse.
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