Auz 2015 offshore lease sale announced

Australia has total of 29 offshore blocks across eight basins up for bid that the government is offering up to investors in its annual Offshore Petroleum Exploration Acreage Release.

Map of the Browse basin. From Australian government.

Twenty-three areas are available for work program bidding and six areas are available for cash bidding.

These blocks are located in the offshore areas of the Northern Territory, the Territory of Ashmore and Cartier Islands, Western Australia, South Australia, Victoria and Tasmania.

Ranging in various water depths and sizes, investment opportunities are open in the Bonaparte, Browse Carnarvon, Roebuck, Ceduna, Otway, Gippsland and Sorrell basins. 

All release areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia.

According to the Department of Industry and Science the 2015 Acreage Release includes:

• Six areas in the Bonaparte basin, located across the Petrel Sub-basin, Sahul Syncline and Vulcan Sub-basin;
• Four areas in the Browse basin, located across the Northern Caswell Sub-basin, Central Caswell Sub-basin and Yampi Shelf;
• One area in the Rowley Sub-basin of the Roebuck basin;
• Eleven areas in the Northern Carnarvon Basin, located across the Dampier Sub-basin and Exmouth Plateau;
• One area in the Ceduna Sub-basin of the Bight basin;
• Three areas in the Nelson Sub-basin of the Otway basin;
• One area in the Northern Sorell basin; and
• Two areas in the South Eastern Gippsland basin.

Addressing this announcement, Victorian Minister for Industry and Science, Ian Macfarlane said both the Victorian and Australian governments are working together to offer explorers a mix of exploration opportunities.

“This year we have exciting frontier opportunities in the Otway and Gippsland Basins which are close to infrastructure and are well connected to Australia’s east coast capital cities," noted Macfarlane. 

Last week, the Queensland government’s Department of Natural Resources and Mines announced it was seeking interest from investors in Europe, North America and Asia to explore petroleum and gas resources in the far southwestern corner of the state.

About 11,000sq km of area was released in the Cooper, Eromanga and Surat basins for exploration expressions of interest.