Extract from the SMH this morning - Karoon resources investing in the Americas
Asked whether Karoon is evaluating opportunities here at home, such as off the Western Australian coast where it once held exploratory drilling leases, Fowles is less-enthusiastic: “I don’t think in the short term we will be looking to reinvest in Australia,” he says.
For an oil and gas executive, it’s not hard to see why. The time it takes to secure approvals in Australia for new offshore developments has blown out astronomically, he explains, measured no longer in months, but in years.
