Bids submitted for offshore acreage - Minister
PERTH (miningweekly.com) – The federal government on Monday revealed that it had received ten bids for offshore petroleum exploration acreage in its latest acreage release.
The National Offshore Petroleum Titles Administrator is now assessing the bids for the 2021 Offshore Petroleum Exploration Acreage Release.
Minister for Resources and Water Keith Pitt said ongoing exploration was critical to ensure an ongoing pipeline of new oil and gas projects and for Australians to have access to reliable and affordable energy.
He said that the invasion of Ukraine was also demonstrating that energy security, including oil and gas, was an increasingly important component of national security and sovereignty.
“Ukraine is providing a frightening example of the dangers of relying on despots and autocrats for your energy supplies. The Australian government is working with like-minded countries on how we can be part of the solution for Europe’s energy crisis and that includes ensuring the development of energy resources,” Pitt emphasised.
“The government regularly offers acreage release opportunities to industry and it is great to see this healthy level of interest in investing in exploration and bringing on new oil and gas projects for both domestic gas and for exports to our trading partners.”
The 2021 release comprised 21 areas across the Bonaparte, Browse and Carnarvon basins off Western Australia, and the Otway, Sorell and Gippsland, off Victoria and Tasmania.
Pitt said the areas that received bids had the potential to link with existing infrastructure and supply major liquefied natural gas projects.
“Solid interest in areas in the Otway basin offshore Victoria and Tasmania will also support the East Coast Gas market and the thousands of jobs and businesses that rely on secure gas supplies.”
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