Exploration & Production

Australia releases new offshore petroleum acreage

Australia announced its Offshore Petroleum Exploration Acreage Release this week, including 21 areas across eight basins.
By Staff reporter 16 May 2017 0 25925

Australia announced its Offshore Petroleum Exploration Acreage Release this week, including 21 areas across eight basins offshore Northern Australia, Western Australia, Tasmania, Victoria, and the Ashmore and Cartier Islands.

The release is a "key part of the Australian Government’s strategy to promote petroleum exploration in Australia’s offshore waters," the Department of Industry, Innovation and Science stated on its website.

The areas are in water depths of 25-4,200 metres and vary in size from 16,000 hectares to 264,500 hectares. Closing dates for bids vary from October 2017 to...