The most recent Energy Club WA industry dinner featured a panel discussion on what it takes to succeed in the development of onshore and offshore energy projects in Australia, at a time when energy security, capital allocation and regulatory complexity are increasingly shaping investment decisions.
Facilitated by Katerina van der Haar, Governor of Energy Club WA and CCS Lead at Wood, the discussion brought together senior leaders from the oil and gas sector to reflect on the realities of progressing projects through discovery, appraisal
and development.
The panel included Will Barker, CEO of Equus Energy, Philip Huizenga, CEO of Carnarvon Energy, Stuart Nicholls, CEO of Elixir Energy, and Andy Furniss, CEO of McCallum New Energy. While each operates in a different segment of the sector, the discussion explored common themes around execution, access to capital and the importance of infrastructure in determining whether projects ultimately move forward.
Across both onshore and offshore contexts, access to infrastructure emerged as a decisive factor. Offshore, panellists highlighted the advantage of operating in regions where pipelines, processing facilities and export capacity already exist, reducing the need for large greenfield investments.
Onshore, however, the discussion turned to gaps in WA’s infrastructure, and the issue of long‑term energy security and planning. They discussed the limitations on converting resources to domestic supply due to the absence of local processing capacity.
Panellists addressed the idea of competition between onshore and offshore developments, with several speakers cautioning against oversimplifying the distinction. Will Barker noted that success depends less on geography than on project fundamentals and context.
“I don’t think it is about offshore versus onshore in a competitive way,” he said. “There are variables that are necessary to win offshore and different variables that are necessary to win onshore.”
From an offshore perspective, Barker emphasised the advantage of working with appraised resources and existing infrastructure, noting that Equus Energy’s offshore gas assets benefit from extensive subsurface work completed by a previous owner.
“Having a project that is close to infrastructure and has already been appraised is quite far advanced,” he said, highlighting the opportunity to utilise existing LNG facilities to support both domestic supply and export markets.
Philip Huizenga expanded on this theme. While acknowledging higher upfront costs, he pointed to the efficiency of offshore production once projects are operational.
“We’re talking five or ten wells to develop 50,000 to 70,000 barrels a day,” he said. “Once you’re producing, you’ve got payback within months to a couple of years.”
The discussion around onshore development focused more heavily on capital markets, investor sentiment and longer project timeframes. Andy Furniss observed that attitudes toward energy investment have shifted in recent years, driven by growing recognition that energy demand, particularly for gas, will remain strong for longer than previously anticipated.
“We’ve definitely noticed a turnaround,” Furniss said. “People have suddenly realised that the energy transition, while it’s coming, isn’t coming fast enough.” Noting a renewed understanding of energy needs and investor interest.
Stuart Nicholls highlighted the pressure on junior and mid‑cap companies to clearly explain their strategy as they compete for capital. He said investors are now focused on fundamentals and long‑term direction.
“What is your actual capital market strategy?” he said. “What is your exit point and what do you want to be or not be when you grow up?”
Regulatory and environmental approvals were also discussed candidly. Panellists pointed to the impact of extended approval timelines on exploration programs, particularly where capital is limited and delays can materially affect project viability. While recognising the importance of environmental safeguards, there was broad agreement that regulatory efficiency will play an increasingly important role in maintaining Australia’s competitiveness as an investment destination.
The discussion reinforced that while the pathways to success vary between onshore and offshore projects, winning ultimately depends on disciplined execution, credible strategies and the ability to navigate an increasingly complex operating environment. The panel highlighted the value of informed, practical dialogue at a time when Australia’s energy sector faces both significant opportunity and constraint.
Thank you to our event sponsor SLB. View the evening photo's here.