EXPLORATION

New permits target exploration investors

With the nations oil fields declining the pressure is on for the next big oil discovery, pushing ...

Two of the permits (WA-352-P and WA-353-P) are located in the major oil and gas province of the Carnarvon Basin which has been a hotbed of exploration for a number of years.

The two permits off Ashmore and Cartier Islands are also located in proven petroleum provinces with permit AC/P33, which includes the Oliver oil discovery in the Bonaparte Basin, already awarded to Natural Gas Corporation, Auralandia and Gascorp.

Permit AC/P34, which includes the Skua oilfield in the Browse Basin, has been awarded to Coogee Resources (Ashmore Cartier) Pty Ltd.

“These permits are close to adjacent gas and oil discoveries and have good potential for significant discoveries,” said federal resources minister Ian Macfarlane.

“All the new permits provide huge opportunities for the petroleum industry.”

“The proximity to existing infrastructure will also facilitate early development of any significant discoveries,” said Macfarlane

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