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    Northern Territory announces 2021 acreage release


The Australian state is offering two areas for oil and gas exploration.

by: Shardul Sharma

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Northern Territory announces 2021 acreage release

Australia's Northern Territory on June 16 opened two areas for oil and gas exploration in the 2021 Northern Territory Petroleum Acreage Release. The areas are located in the Georgina basin.

“The areas cover some of the most prospective regions of the southern part of the Georgina basin, which is a frontier basin with known thick organic-rich shales and widespread documented oil and gas shows,” the state government said.

The release areas are supported by existing well and seismic data together with regional geological data. Previous exploration work includes 2D seismic surveys and thirteen exploration wells, some of which have undergone hydraulic fracture stimulation and testing, the government said.

Applications and submissions for the grant of a petroleum exploration permit will close on November 16.