Santos CEO Kevin Gallagher likens state of Victoria to North Korea

Santos boss Kevin Gallagher has compared Victoria to North Korea as the industry ramps up demands for governments to shred regulations.

Mr Gallagher told the Australian Energy Producers conference in Brisbane that he would rather invest into the United States or Papua New Guinea than Australia.

He said Queensland, Western Australia, the Northern Territory and South Australia were “very supportive jurisdictions” for onshore investment.

“Victoria, North Korea, they’re in a different category altogether,” he said.

“I’m gonna get in trouble for that one. I know I am.”

The Adelaide-based company recently iced the $2 billion Dorado oil project off WA’s coast and blamed approvals uncertainty.

Mr Gallagher said the big issue was that decisions could be challenged even after approval was granted.

“An approval has to be an approval,” he said.

“We’ve seen some retrospective intervention, not just by the current government, the previous government started this ball rolling. It’s like a drug, they get hooked on it.”

Victoria’s economic management has been under pressure amid concerns of growing public debt.