2016 Offshore Petroleum Exploration Acreage Release
Thursday 11 August 2016
The Australian Government encourages investment in petroleum exploration through an annual Offshore Petroleum Exploration Acreage Release. The 2016 acreage release is comprised of areas that have been nominated by industry. The acreage release is underpinned by Australia's stable economic environment and well-established regulatory framework for offshore petroleum activities.
The 2016 acreage release comprises 28 areas located across five basins in Commonwealth waters offshore of the Territory of Ashmore and Cartier Islands and Western Australia, 25 areas are available for work program bidding and three areas for cash bidding.
Areas have been selected to offer the global petroleum exploration industry a variety of investment opportunities. The areas are located in a range of water depths and vary in size and level of existing geological knowledge. All areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia and information on third party rights or other considerations that may impact upon future petroleum activities in a release area.
There are 28 areas as part of the 2016 acreage release. These are located in five basins offshore Western Australia and the Territory of Ashmore and Cartier Islands. Further information on the release areas and the basins of interest, is available by following the links in the menu on the left hand side.