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2017 Offshore Petroleum Acreage Release Permit Awards

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31 October 2018

The 2017 Offshore Petroleum Exploration Acreage Release has been finalised and 7 new offshore petroleum exploration permits have been awarded to oil and gas companies.

The new exploration permits are located in Commonwealth waters offshore Western Australia, Victoria and the Territory of Ashmore and Cartier Islands.

These permits will potentially see more than $530 million in exploration investment over the next six years.

Exploration permits awarded from Round 1

Exploration permit AC/P63

  • The AC17-3 release area in the Timor Sea was awarded to Carnarvon Petroleum Limited.
  • Carnarvon proposed a $4.25 million guaranteed work program including licensing 542 km2 of Cygnus multi-client 3D seismic data.
  • The secondary work program totals $30.5 million and includes an exploration well.
  • No other bids were received for this area.

Exploration permit VIC/P72

  • The V17-1 release area in Gippsland Basin, southeast of Lakes Entrance, was awarded to Cooper Energy (MGP) Pty Ltd.
  • Cooper Energy proposed a $31 million guaranteed work program including one exploration well.
  • The secondary work program totals $31 million and includes one well.
  • No other bids were received for this area.

Exploration permit WA-533-P

  • The W16-6 release area in the Canning Basin, north of Broome, was awarded to INPEX Browse E&P Pty Ltd.
  • INPEX proposed a $9.3 million guaranteed work program comprising acquiring 5005 km of 2D seismic data and 1035 km2 of 3D seismic data.
  • The secondary work totals $26 million and includes one exploration well.
  • No other bids were received for this area.

Exploration permits awarded from Round 2

Exploration permit AC/P64

  • The AC17-4 release area in the Timor Sea was awarded to Shell Australia Pty Ltd.
  • Shell proposed a $76.5 million guaranteed work program including licensing and reprocessing 478 km2 of Cygnus MC3D seismic data and one exploration well.
  • The secondary work program totals $70.2 million and includes one exploration well.
  • One other bid was received for this area.

Exploration permit AC/P65

  • The AC17-5 release area in the Browse Basin, off Western Australia, was awarded to Shell Australia Pty Ltd.
  • Shell proposed a $30.5 million guaranteed work program including licensing Caswell and Heywood multi-client 3D data and acquisition of 2910 km2 of new 3D seismic data.
  • The secondary work program totals $70.2 million and includes one exploration well.
  • One other bid was received for this area.

Exploration permit WA-534-P

  • The W17-3 release area in the Browse Basin, adjacent to the AC/P65 permit, was awarded to Shell Australia Pty Ltd.
  • Shell proposed a $10.6 million guaranteed work program including licensing 753 km2 of Caswell multi-client 3D seismic data and 1697 km2 of Heywood multi‑client 3D seismic data.
  • The secondary work program totals $72.4 million and includes acquisition of 330 km2 3D seismic data and one exploration well.
  • One other bid was received for this area.

Exploration permit WA-535-P

  • The W17-7 release area on the Exmouth Plateau was awarded to BP Development Australia Pty Ltd.
  • BP proposed a $6.4 million guaranteed work program including licencing Olympus 3D seismic data.
  • The secondary work program totals $68 million and includes one exploration well.
  • No other bids were received for this area.

Other results

  • T17-1 and W17-5 received one bid each. Applications did not meet expectations of the Joint Authority and no offer was made.
  • An offer was made on W17-2 but not accepted by the bidder.
  • NT17-1 and W17-4 received bids as a re-release area in the 2018 acreage release and are currently under assessment.

The following areas from the 2017 acreage release and re-release areas from the 2016 acreage release have now reverted to vacant acreage:

  • W16-5
  • W16-9
  • W16-24
  • AC17-2
  • NT17-2
  • T17-1
  • T17-2
  • V17-2
  • V17-3
  • W17-1
  • W17-2
  • W17-5
  • W17-6
  • W17-8
  • W17-9
  • W17-10

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Email: petroleum.exploration@industry.gov.au

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