Resources Minister opens Data Room

18 July 2007

Minister for Industry, Tourism & Resources, The Hon Ian Macfarlane MP, officially opened the Geoscience Australia Offshore Acreage Release Data Room in Canberra on 17 July 2007.

Resources Minister, Ian Macfarlane, MP, (centre) with Geoscience Australia staff (left to right): Dr John Kennard, Dr Clinton Foster, Dr Neil Williams, and Andrea Cortese. (Copyright Geoscience Australia 2007)

The new Data Room, created through the Government's $75m Offshore Energy Security Initiative, enables Australian and international petroleum exploration companies to scrutinise geological and geophysical datasets supporting the Australian Government's annual acreage release.

With Australian use of petroleum increasing and further domestic sources required, the Offshore Energy Security Initiative will provide exploration companies with new pre-competitive information and accelerated access to acreage release data.

"The global oil exploration community is showing significantly increased interest in Australia following initiatives by Geoscience Australia to accelerate access to offshore petroleum exploration datasets", Minister Macfarlane said while opening the new Data Room.

"The long term aim of the Offshore Energy Security Initiative is to secure Australia's domestic oil supply for the future, which is essential to ensure Australia's current economic boom continues", Mr Macfarlane said.

"Unless new discoveries are made, current projections for Australia anticipate a self-sufficiency rate of about 33 per cent by 2015, leaving us two-thirds dependant on foreign supply", Mr Macfarlane said.

"The Offshore Acreage Release Data Room has already attracted numerous bookings and inquiries along with high praise from exploration companies", Mr Macfarlane said.

Topic contact: Last updated: October 4, 2013