Australia announces offshore round

Australia

CANBERRA, May 16, 2018 – Australia has launched the 2018 Offshore Petroleum Exploration Acreage Release, the Australian government announced on Tuesday.

The release comprises 21 licences in six separate offshore basins.

“The Australian Government is committed to the safe and responsible development of oil and gas resources,” Minister for Resources and Northern Australia Matthew Canavan said in a statement. “Offshore oil and gas exploration is vital to meeting Australia’s future energy needs.”

The deadline for bids for the first nine blocks of the release is October 18, 2018, while the rest will be auctioned off in two stages in February and March 2019.

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