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    Australia opens 2021 offshore bid round

Summary

The release comprises 21 areas across six offshore basins.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Asia/Oceania, Political, Licensing rounds, Supply/Demand, News By Country, Australia

Australia opens 2021 offshore bid round

The Australian government on June 15 opened bidding for the 2021 Offshore Petroleum Exploration Acreage Release. The companies can bid until March 3. 

Minister for resources, water and Northern Australia Keith Pitt said the release comprises 21 areas across the Bonaparte, Browse, Carnarvon, Otway, Sorell and Gippsland basins off Western Australia, Victoria, Tasmania and Ashmore and Cartier Islands. 

“The annual acreage release is a crucial component of the government's gas-fired recovery plan. It is vitally important that Australians have access to reliable and affordable energy both now and in the future,” Pitt said. 

All areas in the 2021 release are based on industry nominations and were subject to a public consultation process. All areas are available for work-program bidding. 

“This year’s release provides opportunities in established oil and gas provinces with existing infrastructure as well as under-explored areas offshore Victoria, also within reach of existing infrastructure. This is consistent with the drive to deliver current projects as well as the potential to increase supply into the east coast market,” the minister said. “The continued release of areas for exploration is important to providing a steady supply of energy for the future. I would welcome and encourage industry bidding on the released areas.”