2022 Offshore Petroleum Exploration Acreage Release: open for bidding
The Australian Government has announced 10 release areas for the 2022 Offshore Petroleum Exploration Acreage Release, covering approximately 46,758 square kilometres.
The 2022 release focuses on known oil and gas provinces with accessible infrastructure. This will ensure major projects maintain steady supplies into the future and will lower costs of development in a capital constrained world.
Areas are located across 4 basins offshore of the Northern Territory, Western Australia, the Territory of the Ashmore and Cartier Islands, and Victoria. The basins are the:
- Bonaparte Basin
- Browse Basin
- Northern Carnarvon Basin
- Gippsland Basin.
Industry nominated potential release areas. The Department of Industry, Science and Resources consulted with the public, governments and stakeholders to determine which nominated areas to release.
All areas are available for work-program bidding. Bidding will close on Thursday 2 March 2023.