Australia launches 2015 exploration licensing
Australia
CANBERRA, May 18, 2015 – The Australian government has launched its 2015 licensing round for offshore exploration, according to a press release on the government’s website on Monday.
The 2015 Acreage Release includes 29 blocks across eight basins in a range of water depths. The blocks are located in the offshore areas of the Northern Territory, the Territory of Ashmore and Cartier Islands, Western Australia South Australia, Victoria and Tasmania.
Work programme bidding is required for 23 of the permits, with cash bidding required for six blocks.
Bidding is divided into two tranches. The first tranche of 12 is due on October 29, 2015, and the second tranche of 11 due on April 21, 2016. A pre-qualification process due by 15 October, 2015, is required for the six cash-bid permits, with the cash bids held on February 4, 2016.
The government introduced cash bidding on four blocks last year, but received no bids. A new set of guidelines for work-bid exploration permits has also been launched.
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