EconSearch Completed Project

Project: An Economic Evaluation on the Gulf St Vincent Prawn Fishery of Foul Ground Declaration at the Maersk Victory Accident site (1999)

Client: PIRSA Petroleum

Summary: An economic evaluation to examine the impact on the Gulf Saint Vincent prawn fishery of foul ground declaration following the Maersk Victory accident in 1997 is provided in this report. This accident involved the collapse of an exploratory offshore oil rig creating a hazard for trawlers. Considering the impacts of foul ground declaration on the operations, management and biology of the GSV prawn fishery, a financial cost benefit analysis was performed to evaluate the net cost to the fishery of the area of foul ground.