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The annual offshore petroleum exploration acreage release is part of the government’s strategy to promote offshore oil and gas exploration. Each year, the government invites companies to bid for the opportunity to invest in oil and gas exploration in Australian waters.

Current investment opportunities

See 2018 acreage release opportunities, bidding closes on 21 March 2019.

The 2019 acreage release bidding round opens in July 2019.

You can also nominate areas for future releases at any time on business.gov.au.

Subscribe to the Australian Petroleum News for exploration acreage investment opportunities.

Why invest in offshore petroleum exploration

  • Australia is an attractive investment location with abundant energy resources for exploration and development.
  • Australia’s seabed territory covers more than 14.6 million km² — one of the largest marine jurisdictions in the world.
  • Many of Australia’s sedimentary basins remain largely underexplored and have the potential to host significant volumes of hydrocarbons.
  • Only around 20% of Australia’s offshore basins are covered by petroleum titles.

Australia is a low risk environment to invest and do business, our competitive position is based on:

  • a strong and resilient economy
  • supportive government policies
  • mature trade links with key markets
  • the world’s major oil and gas companies participating at all stages of the supply chain

Australia offers oil and gas explorers:

Read more

Contact us

Email petroleum-exploration@industry.gov.au 

See also 

Last updated: 21 February 2019

Content ID: 46909