The 2011 Fraser Institute Global Petroleum Survey has ranked the commercial environment in Victoria for the petroleum industry as the best in Australia and the fourth-best in the world.

 

Victoria also scored strongly in the key index of the survey measuring how attractive jurisdictions are for investment in the upstream oil and gas industry, ranking 19th out of 136 global jurisdictions for its lack of barriers to investment.

 

The Fraser Institute surveyed 478 of the world's top oil and gas companies who together accounted for more than 60 per cent of upstream oil and gas exploration expenditure last year.

 

The survey result comes in the wake of recent figures from the Australian Bureau of Agricultural and Resource Economics (ABARE) which found there were $4.6 billion worth of oil and gas projects either confirmed or under construction across Victoria.

 

A link to the Fraser Institue report is here .