Australia offers exploration acreage across five offshore basins

Offshore staff

CANBERRA, Australia – The coalition government of Australia has issued the country’s 2020 Offshore Petroleum Exploration Acreage Release.

This covers 42 areas in waters offshore Western Australia, Victoria, Northern Territory and the territory of Ashmore and Cartier Islands off northwest Australia.

A total of 100,000 sq km (38,610 sq mi) of acreage is available for exploration across the Bonaparte, Browse, Northern Carnarvon, Otway, and Gippsland basins.

Federal Minister for Resources, Water and Northern Australia, Keith Pitt said: “The government strongly believes exploration will play a key role in helping our economy recover from the pandemic.

“This year’s release is dominated by areas in established oil and gas provinces with existing infrastructure. This is consistent with the drive to ensure major projects have and maintain steady supply into the future.

“Most importantly, I want to make sure Australia remains an attractive destination for exploration investment and that we can continue to deliver long-term energy security for all Australians.”

All areas offered are based on industry nominations and were subject to a public consultation process. Bidding will close on June 1, 2021.

09/02/2020