According to the Australian Bureau of Statistics, petroleum expenditure during the first three months of this year dropped 15.5% to $460.3 million, compared to the December quarter.

By jurisdiction, the nation’s energy powerhouse Western Australia experienced the largest decrease of $26.6 million (7.7%), followed by the Northern Territory with a drop of $26.1 million, or 34.7%.

New South Wales had the only increase of 37.5% to $1.2 million.

In addition, the figures showed a $50 million, or 12.5%, decrease in offshore exploration, while onshore spending fell $34.2 million (23.7%).

However, when taken in context with the previous corresponding period, exploration expenditure for the quarter was actually up.

Total exploration spending for the March 2006 quarter was just $273.6 million – about $186 million less than in the latest corresponding period.