The Australian Government encourages investment in petroleum exploration through the annual release of offshore petroleum exploration acreage. The Acreage Release is underpinned by Australia's stable economic environment and well-established regulatory framework for offshore petroleum activities.
The 2011 Offshore Petroleum Exploration Acreage Release comprises 29 areas, located across nine basins in Commonwealth waters in the offshore areas of Western Australia, Victoria, the Northern Territory, the Territory of Ashmore and Cartier Islands, and Tasmania.
|Areas: AC11-1, AC11-2, W11-1, W11-10 to W11-15, V11-1 to V11-6 and T11-1.||Closed|
|Areas: NT11-1 and NT11-2, W11-2 to W11-9 and W11-16 to W11-18||Closed|
Release areas have been selected to offer the global petroleum exploration industry a variety of investment opportunities; areas vary in size, level of existing geological knowledge and are located in a range of water depths. All release areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia.
The 2011 Acreage Release package contains the following information:
2011 RELEASE AREAS AND GEOLOGICAL INFORMATION
This section contains details of the 2011 release areas to assist explorers’ consideration of the areas on offer. Information is presented by Basin, with each section containing details on petroleum prospectivity and geological settings, geological data and well listings, shapefiles of the areas on offer and general and Special Notices advising of third party considerations for integration into bid development and information on bidding and assessment requirements.
EXPLORING, INVESTING AND BIDDING
This section provides an introduction to the legislative framework and investment environment for companies interested in becoming involved in the Australian offshore petroleum exploration industry. It also provides an overview of relevant Commonwealth legislation, along with details of key initiatives and programs that may be of interest to potential investors.
This section contains fact sheets for applicants, title holders and interested parties and covers a wide range of topics related to offshore petroleum exploration and regulation in Australia. A checklist to assist preparation of bids for areas is included; its use is recommended.
SUPPORTING PRODUCTS, INFORMATION AND LINKS
This section contains additional information to support the 2011 acreage release, including additional information hires figures and links to petroleum related services.
The nomination period for areas for inclusion in the 2012 acreage release opens on Monday 11 April 2011 and closes on Friday 29 July 2011. This section provides information on how to nominate and issues taken into consideration by the Joint Authority in selecting areas for release.