Exploration in Australia, in 1965, remained at the same level as in 1964, but was reduced in New Zealand. Offshore areas received the greatest attention, with an increase in marine seismic surveys. The outstanding discovery of 1965 was the offshore gas field 16 miles from the coast of Victoria where reserves of 1.5 trillion cubic feet of gas condensate in a Tertiary sandstone 350 feet thick dispelled earlier pessimism concerning the oil and gas potential of Australia.

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