EXPLORATION

Record bids for new acreage: Macfarlane

MORE than $1 billion has been slated for investment in 12 offshore exploration permits awarded by...

Record bids for new acreage: Macfarlane

Industry and Resources Minister Ian Macfarlane said the permits were for exploration areas off Western Australia, Tasmania and the Territory of Ashmore and Cartier Islands.

“A record 52 bids were received for 20 of the 22 areas on offer,” he said.

Macfarlane said Australia was experiencing a major push by local and global explorers focused on low risk, large-volume gas projects to serve the Asia-Pacific energy market.

“Explorers are responding positively to the range of Federal Government measures introduced to encourage offshore petroleum exploration,” he said.

The permits awarded were:

· Three permits in the Exmouth Plateau, Carnarvon Basin, off Western Australia, to Hess Exploration; Chevron Australia, Shell Development Australia and Mobil Australia; and Octanex and Strata Resources;

· Three permits in the Barrow Sub-basin, Carnarvon Basin, off Western Australia, to OMV Australia; Sweetpea Petroleum; and Holloman;

· Three permits in the Bass Basin off Tasmania, to Origin Energy; Tap (Shelfal), SPC Production Company and Jubilant Energy; and Rawson Resources and Hardie Infrastructure;

· One permit in the Southern Platform, Gippsland Basin, off Tasmania, to Great Artesian Oil and Gas;

· One permit in the northern Browse Basin off the Territory of Ashmore and Cartier Islands, to Shell Development Australia and Nexus Energy;

· One permit in the Vulcan Sub-basin, Bonaparte Basin, off the Territory of Ashmore and Cartier Islands, to Coogee Resources (Ashmore Cartier).

Maps and descriptions of the permit areas can be found at: http://www.industry.gov.au/acreagereleases/2006/

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