The release of Access Economics' latest forecasts coincided with confirmation of a $1 billion South Korean gas deal which is expected to generate $80 million in additional royalties for the state over the next seven years.
The Korean deal comes on the heals of an announcement by the Indian-backed Burrup Fertilisers that they will spend up to $630 million on a liquid ammonia plant on the Burrup Peninsula.
In December's mid-term review, WA Energy Minister and Deputy Premier Eric Ripper revealed that production increase and higher oil prices had increased the state's estimated share of petroleum royalties from the North West Shelf by more than $105 million in 2003.
