By the OGJ Online Staff
HOUSTON, Aug. 28 -- Australia and Western Australia state have awarded the Carnarvon basin permit WA-310-P for area W00-56 to a joint venture of West Oil NL, Perth, and Bounty Oil & Gas NL.
The companies applied for the permit during the November close of bidding for the 2000 offshore petroleum acreage release.
West Oil and Bounty Oil & Gas will spend $4 million (Aus.) over 6 years on exploration.
�The proximity of the permit to oil and gas infrastructure and to major gas customers, add to the possibility that any new discoveries will proceed quickly to development," said federal Minister for Industry, Science and Resources Nick Minchin.
