Our biggest oil and gas company creates an artificial reef

Australia's biggest oil and gas company plans to dump part of an oil facility it failed to properly maintain on the sea floor to create an "artificial reef", less than two kilometres from the Ningaloo Coast Reef World Heritage Area in Western Australia. 

The proposal from Perth-based oil and gas company Woodside is one of the first of its kind in Australia — but is unlikely to be the last.

In plans revealed earlier this year, the company says broken parts of a disused offshore oil facility will form an "artificial reef", improve the environment and generate economic value through recreational fishing.

Woodside has preliminary approval from the offshore oil regulator to dump the broken oil infrastructure, along with 49 concrete structures, in about 160m of water 20 kilometres off the coast, where it will become encrusted with sea life.

While conservationists mostly oppose such moves, known as "rig-to-reef", some research suggests leaving some oil rigs in the water might be better for the environment than taking them out.

Nearly 70 oil platforms are expected to shut in the coming 25 years, and regulators expect them to be removed from the water.

But the fossil fuel industry could save about $25 billion by leaving much of the infrastructure in the water.

Continue reading on the ABC News website: Woodside's plans to convert old offshore oil facility into artificial reef could set precedent for industry