THE Australian Government will be hoping recent offshore discoveries such as Phoenix South-1 and Roc-1 will lead to an uptake in interest in 28 blocks it has made available under the 2016 acreage release.acreage-release-2

All 28 blocks are located off the north-west coast of Australia, with a number of those within close proximity of a number of
offshore oil and gas discoveries.

Comprised of areas nominated by industry, the 2016 acreage release has bid blocks across five basins in Commonwealth waters offshore of the Territory of Ashmore and Cartier Islands and Western Australia. 25 of the areas are available for work programme bidding and three areas for cash bidding.

Bid areas:

Northern Carnarvon Basin

The 17 areas in the Northern Carnarvon Basin are likely to receive the most attention due to recent and historical drilling success.acreage-release-4

The 17 areas are located in the Eastern Exmouth Plateau, Exmouth Plateau, Dampier Sub-basin, Barrow Sub-basin and Exmouth Sub-basin.

Bonaparte Basin

Six areas are being offered in the Bonaparte Basin. These are located in the Vulcan Sub-basin, Ashmore Platform, Petrel Sub-basin and Sahul Syncline.

Browse Basin

There are three areas in the Browse Basin, which are located in the Caswell Sub-basin, Southern Browse Basin and Barcoo Sub-basin.

Offshore Canning Basin

One area located in the Oobagooma Sub-basin and Browse Platform is being offered in the Offshore Canning Basin.

Roebuck Basin

While only one area is being offered in the Bedout Sub-basin of the Roebuck Basin it should attract a lot of interest due to the recent Phoenix South-1 and Roc-1 successes for Quadrant and Carnarvon.

The sub-basin is a frontier region with only eight wells drilled, including the discoveries of oil at Phoenix South-1 and liquidsacreage-release-1-rich gas at Roc-1.

.The closing dates to lodge bids for the 2016 Acreage Release are:

  • Cash bid prequalification: acreage-release-3Thursday 20 October 2016
  • Round one – work programme: Thursday 8 December 2016
  • Cash bid auction: Thursday 2 February 2017
  • Round two – work programme: Thursday 23 March 2017

All release areas are supported by precompetitive geological and geophysical data and analysis undertaken by Geoscience Australia.

Detailed information on the 2016 acreage release can be found online at http://www.petroleum-acreage.gov.au/.