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The permits would result in an additional $160 million being invested in offshore exploration over the next six years, resources and industry minister Ian Macfarlane said.
A joint venture comprising Octanex NL, Strata Resources NL and Gascorp Australia Ltd joint venture, won two large contiguous deepwater Carnarvon Basin, Western Australian blocks.
The two exploration blocks, WA-362-P and WA-363-P, are on the Exmouth Plateau, north-west of Goodwyn/Rankin gas producing facilities and north of the giant Jansz/Io gasfields. They cover about 21,765 square kilometres and are considered to have significant natural gas and liquids potential, according to Octanex.
“The planned three-year work program by the consortium includes existing seismic data acquisition, reprocessing and the acquisition of more than 2,000km of 2D seismic acquisition,” Octanex said.
In Tasmania, 3D Oil Pty Ltd won Bass Basin permit T/41P.
The other successful bidders for new permits were Chevron Texaco Australia and Shell Development (Australia), which won four Carnarvon Basin permits, and Santos Offshore Pty Ltd, which won Tasmanian Otway Basin permit T/40P. EnergyReview reported on these results earlier this month.
Macfarlane announced the new permits as part of the government's program of releasing offshore acreage for petroleum exploration.
"In a time when oil prices are high and natural gas is becoming an increasingly important resource, it is heartening to see companies are more than willing to explore for the next big petroleum discovery in offshore Australia," Macfarlane said.
He said six of the new permits were located in the petroleum-rich province of the Carnarvon Basin of WA, which still held potential for further large discoveries.
"Two of these are located over designated frontier areas (DFA), which allow an immediate uplift to 150% on petroleum resource rent tax deductions for exploration expenditure," he said.
DFA represent a push by the government to enhance the investment climate for petroleum companies exploring in offshore waters, according to Macfarlane.
