Australia receives 10 bids in latest acreage release
A total of 10 bids have been received for areas in the Australian government’s latest acreage release, minister for resources and water Keith Pitt said on March 14. The National Offshore Petroleum Titles Administrator is now assessing the bids for the 2021 Offshore Petroleum Exploration Acreage Release.
Pitt said ongoing exploration is critical to ensure an ongoing pipeline of new oil and gas projects and for Australians to have access to reliable and affordable energy. The invasion of Ukraine is also demonstrating that energy security, including oil and gas, is an increasingly important component of national security and sovereignty, he added.
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“Ukraine is providing a frightening example of the dangers of relying on despots and autocrats for your energy supplies. The Australian Government is working with like-minded countries on how we can be part of the solution for Europe’s energy crisis and that includes ensuring the development of energy resources,” Pitt said.
The 2021 release comprised 21 areas across the Bonaparte, Browse, Carnarvon basins off Western Australia, and the Otway, Sorell and Gippsland, off Victoria and Tasmania. The following areas received bids: W21-1, W21-3, W21-8, W21-10, V21-2, T21-1, T21-2, T21-3 and T21-4. The minister said the areas that received bids have the potential to link with existing infrastructure and supply major LNG projects.
“Solid interest in areas in the Otway basin offshore Victoria and Tasmania will also support the East Coast gas market and the thousands of jobs and businesses that rely on secure gas supplies,” he said.