Bureau of Resources and Energy Economics
 

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.

The fact sheets and checklists have been designed to provide a concise overview of key aspects of the annual Acreage Release process and to assist stakeholders in preparing competitive bids for acreage and managing exploration permits if awarded.

Please note: these documents have been developed as a guide only. They do not replace or amend information provided in the Offshore Petroleum Legislation, Regulations and Guidelines or other applicable legislation and should not be relied solely upon when making decisions.

Document Title

Description

File Type

2014 General and Special Notices

Outlines the obligations of offshore petroleum explorers and the rights and interests of others that may apply to the 2014 Acreage Release areas.

[DOCX 823 kB]

Bidding for an Exploration Permit

Describes the process for bidding on acreage in the 2014 Acreage Release.

[DOCX 681 kB]

 

Cash Bidding

Describes the process for bidding on the identified cash bid acreage areas in the 2014 Acreage Release that are available for grant under a cash bidding system.

[DOCX 684 kB]

 

Bid Assessment Criteria

Explains the criteria taken into account by the Joint Authority when assessing an applicant's bid (either work program or cash bid) for offshore petroleum exploration acreage.

[DOCX 675 kB]

 

Offshore Petroleum Regulatory Framework

Provides an overview of the Australian Government legislation and associated regulatory framework for petroleum related activities in Australian waters.

[DOCX 673 kB]

Petroleum Law and Government

Describes Australia’s government framework and the role of government in petroleum exploration and development in Australia.

[DOCX 741 kB]

Work Program Commitments

Highlights the Joint Authority's expectations in relation to the titleholder's agreed work program commitments for work program exploration permits.

[DOCX 674 kB]

 

Titleholder Obligations

Discusses the obligations of offshore petroleum explorers and the rights and interests of others that may apply to areas released for offshore petroleum exploration.

[DOCX 680 kB]

 

Exploration Permit Renewal and Relinquishment

Sets out the expectations and process (including relinquishment) for renewing an exploration permit.

[DOCX 690 kB]

Petroleum Fees

Provides an overview of fees levied under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 and associated regulations.

[DOCX 677 kB]

Petroleum Discovery

Explains the steps that must be taken by a titleholder following a petroleum discovery in a permit area.

[DOCX 673 kB]

Commonwealth Marine Reserve System

Outlines the obligations of offshore petroleum explorers in relation to the Australian Government’s marine parks network.

[DOCX 678 kB]

Exploring in the Perth Treaty Area

Describes matters relevant for petroleum exploration and development in the Perth Treaty Area.

[DOCX 677 kB]

Explore Australia

Provides an overview of Australia’s oil and gas endowment and associated investment attractiveness.

[DOCX 702 kB]

Foreign Investment

Describes the framework for foreign investment in Australia.

[DOCX 252 kB]

 

Petroleum Taxation

Describes general income taxation arrangements and specific resources taxation for offshore oil and gas companies working in Australia.

[DOCX 691 kB]

Offshore Greenhouse Gas Storage

Outlines the legislative framework for greenhouse gas injection and storage operations in Commonwealth offshore waters under the Offshore Petroleum and Greenhouse Gas Storage Act 2006.

[DOCX 671 kB]

Area Nomination

Explains the process for nominating areas for possible inclusion in the annual Acreage Release, including information on factors considered by the Joint Authority when assessing nominations.

[DOCX 672 kB]

 

Area Nomination Form

Template that is to be used to nominate potential future acreage release areas.

[DOC 51 kB]

 

Checklists
Document Title Description File Type

Submitting an Application for Exploration Acreage – Work Program

This checklist aims to assist industry in developing and submitting a bid for offshore acreage, which may result in the grant of a work program exploration permit. It is intended as a guide only.

[DOCX 671 kB]

 

 

Submitting an Application for Exploration Acreage – Cash Bid

This checklist aims to assist industry in developing and submitting a bid for offshore acreage, which may result in the grant of a cash bid exploration permit. It is intended as a guide only.

[DOCX 675 kB]