Australia has launched the 2020 Offshore Petroleum Exploration Acreage Release, comprising 42 areas in Commonwealth waters off Western Australia, Victoria, Northern Territory and the Territory of Ashmore and the Cartier Islands.
Australia has launched the 2020 Offshore Petroleum Exploration Acreage Release, comprising 42 areas in Commonwealth waters off Western Australia, Victoria, Northern Territory and the Territory of Ashmore and the Cartier Islands.
Approximately 100,000 km2 of acreage has been made available for exploration across five basins including Bonaparte, Browse, Northern Carnarvon, Otway and Gippsland basins.
Australia’s energy minister 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.’
All areas in the 2020 Acreage Release are based on industry nominations. Bidding will close on 1 June 2021.
