Why did Equinor withdraw and what's next for the Great Australian Bight?

Equinor's decision to scrap its proposed drilling in the Great Australian Bight has come as a shock to supporters and critics alike.

Protesters in Oslo taking a stand against
drilling in the Great Australian Bight.

The decision was revealed just weeks after the Norwegian oil company was granted environmental approval by the national offshore petroleum regulator — a key hurdle that would have allowed exploration drilling to begin within months.

The company has not commented on how much it spent to get to this point, but has insisted it is a purely commercial decision, and unrelated to widespread environmental opposition.

"It's just too expensive … the cost for these activities is just too high to go ahead," Equinor's Australian chief, Jone Stangeland, said.

Read true ABC News story by Daniel Keane and Camron Slessor - “Why did Equinor withdraw and what's next for the Great Australian Bight?”

Drilling for oil in the Great Australian Bight would be disastrous for marine life and the local community

The Great Australian Bight is home to a unique array of marine life. More than 85% of species in this remote stretch of rocky coastline are not found anywhere else in the world. It’s also potentially one of “Australia’s largest untapped oil reserves”, according to Norwegian energy company Equinor.

A recent poll showed seven out of ten South Australian
voters are against drilling in the Great Australian Bight.

Equinor has proposed to drill a deepwater oil well 370km offshore to a depth of more than two kilometres in search of oil.

But a recent poll showed seven out of ten South Australian voters are against drilling in the Bight. And hundreds of people recently gathered on an Adelaide beach in protest.

Read the story from The Conversation - “Drilling for oil in the Great Australian Bight would be disastrous for marine life and the local community.”