2016 Offshore Petroleum Exploration Acreage released

The 2016 offshore petroleum exploration acreage map.

The 2016 offshore petroleum exploration acreage map.

The Australian Government has released the 2016 Offshore Petroleum Exploration Acreage Release, comprised of areas that have been nominated by industry.

The 2016 acreage release comprises 28 areas located across five basins in Commonwealth waters offshore of the Northern Territory and Western Australia.

There are 25 areas available for work program bidding and three areas available for cash bidding.

The areas are located in a range of water depths and vary in size and level of existing geological knowledge.

All of the areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia and information on third party rights or considerations that may impact upon future petroleum activities in a release area.

The first round of bids close on 8 December 2016, with the last round closing on 23 March 2017.

You can read more information on the acreage release here.

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