Australia Launches 2020 Licensing Round
Australia has launched its 2020 offshore petroleum exploration acreage release, the government announced on August 26, inviting companies to bid for 42 areas by June 1 2021.
The acreage on offer comprises 19 blocks in the Northern Carnarvon basin, 12 in the Bonaparte basin and eight in the Browse basin off north Australia, along with two in the Gippsland and one in the Otway basin off southeast Australia.
In a statement, Australia's department for industry, science, energy and resources said the round mostly consisted of acreage in established oil and gas provinces where there is already infrastructure. The blocks were chosen based on industry nominations, vetted by public consultation.
'I acknowledge the impact the Covid-19 pandemic is having on the oil and gas industry," the minister for resources, water and northern Australia, Keith Pitt, said. "The government strongly believes exploration will play a key role in helping our economy recover from the pandemic."