Australia Grants 13 New Offshore Exploration Permits

Australian Resources and Energy Minister Gary Gray has announced the grant of 13 new offshore petroleum exploration permits as part of round one of the 2012 Offshore Petroleum Exploration Acreage Release.

The award of these permits will see an estimated $180 million in new investment in waters offshore Western Australia and Tasmania over the next three years. With the proposed secondary work programs, further expenditure could rise to more than $550 million.

“The release and subsequent award of exploration acreage is critical to ensure the growth of the Australian petroleum sector remains strong,” Gray said.

“The high demand for Australia’s offshore petroleum acreage is pleasing, with 23 bids received for 15 new release areas from a mix of international and Australian companies.

“This new exploration commitment has the potential to add to our nation’s oil and gas reserves and continues to underpin new projects.

“This ongoing investment will ensure the continuation of Australia’s impressive reputation as a safe, reliable exporter of LNG,” Gray said.

Permits awarded

T/49-P (released as T12-1) located immediately to the south of Victoria-Tasmania scheduled boundary in the eastern Otway Basin has been awarded to 3D Oil Limited. The company proposed a guaranteed work program of 500km 2D seismic reprocessing; 755km2 3D seismic acquisition and processing; and geological and geophysical studies to an estimated value of $13.15 million. The secondary work program consists of well planning, two exploration wells and reviewing well results, totalling $41 million. There were two other bids for this area.

WA-488-P (released as W12-2) located offshore Western Australia in the shallow waters of the Joseph Bonaparte Gulf in the Petrel Sub-Basin has been awarded to MEO Australia Limited. The company proposed a guaranteed work program of 400km 2D reprocessing, geological and geophysical studies, and one exploration well with an estimated value of $20.35 million. The secondary work program consists of 400km² of new 3D seismic survey; geological and geophysical studies, and one exploration well to an estimated value of $25.2 million. There were no other bids for this area.

WA-485-P (released as W12-3) located offshore Western Australia in the Caswell Sub-basin, Prudhoe Terrace and Yampi Shelf of the Browse Basin has been awarded to IPM West Pty Ltd. The company proposed a guaranteed work program of geological and geophysical studies, 610km² 3D seismic survey and two exploration wells, all to an estimated value of $32.25 million. The secondary work program consists of geological and geophysical studies; one exploration well; and 500km2 3D seismic survey to an estimated value of $19.75 million. There were no other bids for this area.

WA-494-P (released as W12-4) located offshore Western Australia on the Prudhoe Terrace of the Browse Basin has been awarded to Inpex Browse, Ltd. The company proposed a guaranteed work program of the purchase of 80km2 3D seismic data, reprocessing 210km² 3D seismic data, reprocessing 40km 2D data, 290km² 3D seismic interpretation, 280km 2D seismic interpretation, geological modelling of stratigraphic plays and 290km² inversion analysis to reprocessed 3D data to the value of $1.21 million. The secondary work program consists of well planning, integrating results from Permit Year 3, one exploration well and the integration of the results of Permit Year 5, totalling $25.48 million. There was one other bid for this area.

WA-483-P (released as W12-8) located offshore Western Australia, 75-100km offshore from Onslow, predominately in the northern Exmouth sub-basin, has been awarded to Woodside Energy Ltd. The company proposed a guaranteed work program of 1,041km2 3D seismic survey; one exploration well and geotechnical studies to an estimated value of $42.3 million. The secondary work program consists of geological and geophysical studies and one exploration well to an estimated value of $31.5 million. There were five other bids for this area.

WA-486-P (released as W12-9) over the waters in the Barrow Sub-basin approximately 45-50km offshore from Onslow has been awarded Apache Northwest Pty Ltd. The company has proposed a guaranteed work program of 505km² 3D seismic acquisition and reprocessing; geotechnical studies; rock physics/quantitative interpretation and 3D seismic inversion studies to an estimated value of $10.8 million. The secondary work program consists of geotechnical studies and one exploration well to an estimated value of $20.4 million. There were four other bids for this area.

WA-489-P (released as W12-12) located offshore Western Australia on the Exmouth Plateau, Carnarvon Basin has been awarded to Shell Development (Australia) Pty Ltd. The company has proposed a guaranteed work program of 1,768km² 3D seismic reprocessing and geological and geophysical studies to an estimated value of $7.4 million. The secondary work program consists of geological and geophysical studies and one exploration well to an estimated value of $42 million. There were no other bids for this area.

WA-490-P (released as W12-13) located offshore Western Australia on the Exmouth Plateau, Carnarvon Basin has been awarded to Shell Development (Australia) Pty Ltd. The company has proposed a guaranteed work program of 1,685km² 3D seismic reprocessing; geological and geophysical studies and 300km2 3D CSEM survey to an estimated value of $10.7 million. The secondary work program consists of geological and geophysical studies and one exploration well to an estimated value of $42 million. There was one other bid for this area.

WA-491-P (released as W12-14) located offshore Western Australia, 75-100km offshore from Onslow, predominately in the northern Exmouth sub-basin, has been awarded to Shell Development (Australia) Pty Ltd. The company proposed a guaranteed work program of 2,030km2 3D seismic survey and geological and geophysical studies to an estimated value of $18.5 million. The secondary work program consists of geological and geophysical studies and one exploration well to an estimated value of $42 million. There was one other bid for this area.

WA-487-P (released as W11-6) located approximately 250km north-northeast of Port Hedland and 150km west of Broome has been awarded to Pathfinder Energy Pty Ltd. The company proposed a guaranteed work program of mapping and interpreting existing 2D and 3D data; 500km 2D reprocessing; 70km² 3D seismic survey and seismic reprocessing, all to an estimated value of $3.34 million. The secondary work program consists determining a well location and one exploration well to an estimated value of $23.35 million. There were no other bids for this area.

WA-484-P (released as W11-7) located in waters offshore Western Australia 250-450km north of Dampier over the north-eastern Plateau and Beagle Sub-Basin of the Northern Carnarvon Basin has been awarded to CNOOC Australia E&P Pty Ltd. The company proposed a guaranteed work program of 1,000km 2D seismic reprocessing, 2,000km² new 3D seismic acquisition and processing and geological and geophysical studies to an estimated value of $13.6 million. The secondary work program consists of well planning, one exploration well and re-evaluation and integrate results totalling $55.8 million. There was one other bid for this area.

WA-492-P (released as W11-16) located offshore Western Australia on the continental shelf and slope of the Cuvier margin has been awarded to Total E&P Australia. The company proposed a guaranteed work program of geological and geophysical studies and 1,250km acquisition or licensing of a new 2D seismic survey to an estimated value of $2.75 million. The secondary work program consists of geological and geophysical studies an estimated value of $750,000. There were no other bids for this area.

WA-493-P (released as W11-17) located offshore Western Australia on the continental shelf and slope of the Cuvier margin has been awarded Total E&P Australia. The company proposed a guaranteed work program of geological and geophysical studies and 1,250km acquisition or licensing of a new 2D seismic survey to an estimated value of $2.75 million. The secondary work program consists of geological and geophysical studies an estimated value of $750,000. There were no other bids for this area.