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Consultation on new offshore oil and gas areas

18 December 2017

Consultation is open on 21 areas proposed for oil and gas exploration in offshore Australian waters.

The areas may be included in the 2018 Offshore Petroleum Exploration Acreage Release, the first step in the annual process that has resulted in $359 million in exploration commitments this year.

Consultation on the proposed areas in offshore Western Australia, South Australia, Victoria and the Territory of Ashmore and Cartier Islands will remain open until Wednesday 7 February 2018.

Minister for Resources and Northern Australia Matt Canavan invited comments from aquatic industries and others with an interest in offshore Australian waters as part of the process of opening up new areas for exploration and investment.

“New exploration for offshore oil and gas is a vital first step to enabling the next wave of investment in the Australian resources sector, and the prospect of new oil, gas and condensate production,” Minister Canavan said.

“Investment in new permit areas is crucial to maintaining a pipeline of future developments and to strengthen our long-term energy security. The annual acreage release is a major part of the Australian Government’s efforts to attract this exploration investment.

“The consultation opening today includes seven areas off the Victorian coast that have the potential to add to gas available in South Eastern Australia.

“The 2016 acreage release secured significant investment, with the Australian Government’s award of eight new offshore petroleum exploration permits in 2017 potentially resulting in $359 million in oil and gas exploration investment over the next six years.”

The public consultation portal for the 2018 release can be accessed at https://consult.industry.gov.au/ 

Information about the permits awarded from the 2016 acreage release is available in the December edition of Australian Petroleum News. Further information on the acreage release process can be found at http://www.petroleum-acreage.gov.au/ 

Media contact: Minister Canavan's office 02 6277 7180