The 2016 Offshore Petroleum Exploration Acreage Release makes 28 new areas available for bidding in Commonwealth waters offshore from Western Australia and the Territory of Ashmore and Cartier Islands.
Announced by Resources Minister Matt Canavan, the areas in the 2016 acreage release are based on industry nominations, which were heavily concentrated in the north-west of Australia. Located in a range of water depths, the areas available for bidding vary in size and level of existing geological knowledge.
All areas are supported by pre‑competitive geological and geophysical data and analysis, undertaken by Geoscience Australia and information on considerations that may impact upon future petroleum activities in a release area.
The acreage is available through the usual combination of work-program rounds and a cash bid auction.