Twelve new offshore petroleum exploration permits have been awarded in waters off Western Australia and Victoria, and will see $303 million in new investment over the next three years.

 

A total of 46 bids were received for 16 release areas of the first 2011 Offshore Petroleum Exploration Acreage Release round, which closed on 13 October 2011. Exploration permits were awarded to eight companies, including BHP Billiton, Bass Strait Oil Company, WHL Energy and Woodside.

 

The Minister for Resources and Energy, Martin Ferguson  said the new permits would continue the growth of investment and employment in the resources sector.

 

"LNG exports are forecast to significantly expand in Australia over the next two decades," Minister Ferguson said.

 

"We already export $11 billion of LNG, making Australia the third largest LNG exporter in the Asia-Pacific region and the fourth largest LNG exporter in the world.

 

"With these new permits, we hope to see discovery of new oil and gas reserves, which could translate into more jobs and growth for our economy."

 

Since 2007, over $175 billion in capital expenditure has been committed to LNG projects and there are seven projects under construction.

 

In the last financial year, new capital expenditure across the mining sector　was valued　at over $47　billion, up almost $10 billion from the previous year, with Australia’s LNG industry underpinning this growth.

 

In 2011, Australia exported 18.9 million tonnes of LNG, with a value of around $11.1 billion. The Australian Government’s Bureau of Resources and Energy Economics forecasts the value of Australian LNG exports for 2011-12 will increase to $11.6 billion.

 

A full list of the exploration permits awarded is below and further information on acreage release is available at www.petroleum-acreage.gov.au

 

Permits Awarded

AC/P55 (released as AC11-2) on the Ashmore Platform of the Bonaparte Basin off the Territory of the Ashmore and Cartier Islands has been awarded to Finder No 13 Pty Ltd. The company proposed a guaranteed work program comprising licensing 80km2 of pre-existing multi-client 3D seismic data, 400km2 3D seismic survey, 320km2 3D seismic reprocessing and geotechnical studies to an estimated value of $4.95m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $17.3m. There was one other bid for this area.

 

WA-471-P (released as W11-1) in the Caswell Sub-basin of the Browse Basin off Western Australia has been awarded to IPM Browse Pty Ltd. The company proposed a guaranteed work program of geotechnical studies, 600km2 3D seismic surveying and one exploration well to an estimated value of $24.0m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $15.6m. There were three other bids for this area.


WA-472-P (released as W11-10) straddling the Lambert Shelf, Beagle and Dampier Sub-basins of the Northern Carnarvon Basin off Western Australia has been awarded to Woodside Energy Ltd. The company proposed a guaranteed work program of geotechnical studies, 3023km2 3D seismic survey and two exploration wells to an estimated value of $54.89m. The secondary work program consists of 1000km2 3D seismic reprocessing, geotechnical studies and one exploration well to an estimated value of $19.38m. There were two other bids for this area.

 

WA-473-P (released as W11-11) straddling the Lambert Shelf, Beagle and Dampier Sub-basins of the Northern Carnarvon Basin off Western Australia has been awarded to Woodside Energy Ltd. The company proposed a guaranteed work program of geotechnical studies and 1541km2 new 3D seismic surveying to an estimated value of $11.33m. The secondary work program consists of geotechnical studies, one exploration well and 600km2 seismic reprocessing to an estimated value of $19.09m. There were three other bids for this area.


WA-474-P (released as W11-12) on the Central Exmouth Plateau of the Northern Carnarvon Basin off Western Australia has been awarded to Hess Australia (Offshore) Pty Limited. The company proposed a guaranteed work program of geotechnical studies and 1045km2 3D seismic reprocessing to an estimated value of $9.75m. The secondary work program consists of one exploration well and geotechnical studies to an estimated value of $51.0m. There was one other bid for this area.

 

WA-475-P (released as W11-13) on the Central Exmouth Plateau of the Northern Carnarvon Basin off Western Australia has been awarded to BHP Billiton Petroleum (Australia) Pty Ltd and Apache Northwest Pty Ltd. The companies proposed a guaranteed work program of 192km2 3D seismic survey, 884km2 3D seismic reprocessing, two exploration wells and geotechnical studies to an estimated value of $107.58m. The secondary work program consists of one exploration well and geotechnical studies to an estimated value of $51.0m. There was one other bid for this area.

 

WA-476-P (released as W11-15) in the Exmouth Sub-basin of the Northern Carnarvon Basin off Western Australia has been awarded to Murphy Australia Oil Pty Ltd. The company proposed a guaranteed work program of 641km2 3D seismic reprocessing, 100km 2D seismic survey and geotechnical studies to an estimated value of $1.8m. The secondary work program consists of one exploration well and geotechnical studies to an estimated value of $20.4m. There were no other bids for this area.

 

WA-468-P (released as W10-7) in the Beagle Sub-basin of the Northern Carnarvon Basin off Western Australia has been awarded to Finder No 14 Pty Ltd. The company proposed a guaranteed work program of 1200km2 3D seismic reprocessing, licensing 450km2 reprocessed 3D seismic data, 200km 2D seismic survey and geotechnical studies to an estimated value of $1.8m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $17.3m. There was one other bid for this area.


WA-469-P (released as W10-21) on the Exmouth Plateau of the Northern Carnarvon Basin off Western Australia has been awarded to BHP Billiton Petroleum (Australia) Pty Ltd. The company proposed a guaranteed work program of 923km2 3D seismic survey, 161km2 3D seismic reprocessing and geotechnical studies to an estimated value of $12.25m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $49.0m. There were five other bids for this area.


WA-470-P (released as W10-22) on the Exmouth Plateau of the Northern Carnarvon Basin off Western Australia has been awarded to BHP Billiton Petroleum (Australia) Pty Ltd. The company proposed a guaranteed work program of 235km2 3D seismic survey, 721km2 3D seismic reprocessing and geotechnical studies to an estimated value of $8.98m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $49.0m. There were five other bids for this area.


VIC/P67 (released as V11-2) in the Otway Basin off Victoria has been awarded to WHL Energy Limited. The company proposed a guaranteed work program comprising 1000km 2D reprocessing, 811km2 3D seismic acquisition and processing, 650km 2D seismic acquisition and reprocessing, two exploration wells and geotechnical studies to an estimated value of $62.1m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $27.0m. There were six other bids for this area.


VIC/P68 (released as V11-5) in the Gippsland Basin off Victoria has been awarded to Bass Strait Oil Company Ltd. The company proposed a guaranteed work program of geotechnical studies and 225km2 3D seismic survey to an estimated value of $3.5m. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $20.5m. There was one other bid for this area.