The Australian government has released a total of 21 areas for bidding in the 2021 offshore acreage release across the Bonaparte, Browse, Carnarvon, Otway, Sorell and Gippsland basins off Western Australia, Victoria, Tasmania and the Ashmore and Cartier Islands.
Some 80,000 sq km of new acreage is available for exploration in Commonwealth waters.
The acreage release is a crucial component of the government's gas-fired recovery plan, said Minister for Resources, Water and Northern Australia, Keith Pitt.
“Exploration will continue to play a key role in supporting Australia’s economic growth by encouraging investment in development prospects, as well as unlocking additional supply.
“This year’s release provides opportunities in established oil and gas provinces with existing infrastructure as well as under-explored areas offshore Victoria, also within reach of existing infrastructure. This is consistent with the drive to deliver current projects as well as the potential to increase supply into the East Coast market,” he said.
All areas in the 2021 acreage release are based on industry nominations and were subject to a public consultation process. All areas are available for work-program bidding. Bidding will close on Mar. 3, 2022.
