Multi-national energy giant Chevron cited low oil prices for cancelling its plans to drill for oil in the Great Australian Bight.

Environmentalists welcomed the decision.  "I don't think the Great Australian Bight is an appropriate place to be trying to turn into an oil field," said Peter Owen from the Wilderness Society to the ABC.  "It's very deep water, it's very rough water, it's extremely remote, it's also one of the most significant whale nurseries on the planet."

Chevron says it will concentrate on other other projects.  The oil company denies its decision was forced by environmental or community concerns, of because of government policy.  It comes a year after BP also decided not to drill in the bight.

Greens Senator Sarah Hanson-Young notes that there are still other companies that to drill for oil in the southern waters.

"One of the big companies of course still left on the table is Statoil from Norway," she said.  "Over the next week I'll be reaching out to the Norwegian ambassador and the Norwegian Government to say 'look, it's just not worth it, leave our Great Australian Bight alone'."