Australia Awards New Oil, Gas Permits

Australia has dished out 13 new offshore petroleum exploration permits as part of round one of the 2012 Offshore Petroleum Exploration Acreage Release, Resources and Energy Minister Gary Gray said in a statement Monday.

Xinhua reported that these permits may see an estimated 180 million AU dollars ($172.2 million) in new investment in waters off Western Australia and Tasmania over the next three years.

"The release and subsequent award of exploration acreage is critical to ensure the growth of the Australian petroleum sector remains strong," Gray said.