By Ross Verne

BIG CUTS to exploration budgets, project deferrals, and a climate of deep uncertainty have set the industry up for a difficult 2015.

But amid the price pressures and uncertainties afflicting the sector, experts contacted by Oil & Gas Australia identified opportunities in the domestic gas sector, growth in coal seam gas, and light at the end of the tunnel for the country’s nascent shale industry.

Oil & Gas Australia spoke with University of Western Australia energy economist Peter Hartley and director of the University of Queensland’s Centre for Coal Seam Gas Andrew Garnett about their expectations for Australia’s upstream petroleum sector.

Graeme Bethune from energy sector advisory firm EnergyQuest and Credit Suisse Australia oil and gas analyst Martin Kronborg provide further insight into what we can expect this year.