Western Australia Petroleum Acreage Release 2012
In May 2012, the Western Australian Government, through the Department of Mines and Petroleum, announced the release of seven areas for competitive bidding under its Petroleum Acreage Release. The West Australia Government typically conducts two rounds of acreage releases per year, with this being the first for 2012. This follows the Department of Mines and Petroleum announcing, in September 2011, the second Western AUstralia Petroleum Acreage Release 2011, offering nine areas for auction.
The seven acreage release areas are situated throughout four sedimentary basins within the state. Interested companies are able to submit their work programme bids up until 16:00 on Thursday 1 November 2012.
The areas offered are as follows:
|Western Australia Petroleum Acreage Release 2012|
|L12-01||OFFSHORE NORTH CARNARVON|
Blocks offered under the Western Australia Petroleum Acreage Release 2012.
The release area in the Northern Carnarvon Basin is located in the highly prospective Barrow Sub-Basin, encompassing the Errol gas discovery made by Apache in 2001, within close proximity to existing production. The Amadeus Basin release area overlies a virtually unexplored area along the border of Western Australian and Northern Territory where preliminary assessment of the area has highlighted the possibility of a Neo-proterozoic sub-salt petroleum system. The release areas in the Officer Basin overlie regions where no significant hydrocarbon exploration has been undertaken in recent decades, highlighting how under explored the basin is for hydrocarbon resources. However, the most recent wells have intersected oil and gas shows within the Neo-proterozoic Buldya Group and the seismic shows evidence of halotectonic activity in the northern parts of the acreage. Finally, the Perth Basin release areas overlie a region where thick Lower Triassic source and seal are predominant, as well as source intervals within the Lower Jurassic. The basin has been moderately explored with several producing oil and gas fields within close proximity.
For further information, please contact the Department of Mines and Petroleum’s Petroleum Division or the Geological Survey of Western Australia.
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