AusGeo News June 2006 Issue No. 82
Offshore exploration permits at record high.
Each year the Australian Government releases new opportunities for offshore petroleum exploration. This annual release of offshore acreage is part of Australia’s Offshore Petroleum Strategy, and all areas are available through a work program bidding system.
The 2006 release was announced on 8 May by the Hon. Ian Macfarlane, Minister for Industry, Tourism and Resources, at the annual Australian Petroleum Production and Exploration Association (APPEA) conference. Thirty-six new exploration areas, located in nine of Australian’s offshore sedimentary basins, were released (figure 1).
The areas on offer include:
All areas are available for bidding through a work program bidding system. Closing dates for the release areas are 9 November 2006 and 10 May 2007, depending on the size and relative exploration maturity of the areas.
Geoscience Australia has a number of products that could help explorers review potential acreage.
Information on the 2006 release can also be obtained from the Department of Industry, Tourism and Resources website.