Western Australia launches oil and gas bid round

Australia

PERTH, October 23, 2023 – Western Australia has put eight onshore areas on offer under its first 2023 oil and gas bid round, Upstream Online reported on Saturday.

The concessions are located across the Canning, northern Carnarvon, Amadeus and Perth basins and are between 400 square kilometres and 7,070 square kilometres.

Applicants will be granted exploration rights for six years with assurance that exploration work programmes are carried out within two years.

The blocks fall under the terms of the Petroleum and Geothermal Energy Resources Act 1967.

The deadline for applications is January 19, 2024.

The state previously re-extended a ban on hydraulic fracturing.

“New gas supply is critical to the state’s future with demand set to tighten in coming years as gas powers Western Australia’s resources and growing critical minerals sector and supports renewables in the South West electricity system as coal-fired power exits,” said Caroline Cherry, director for Western Australia of Australian Energy Producers.