abarrelfull wrote on 18 Nov 2011 08:34
Tags: australia upstream
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The awarding of nine new offshore permits from the second round of the 2010 Offshore Petroleum Exploration Acreage Release will enable petroleum exploration investment worth $380 million in waters off Western Australia and have the potential to benefit Australia’s long term energy security.
The permits awarded to Woodside, Shell, Mitsui E&P, Cottesloe Oil and Gas, Strike Energy, WHL Energy and Santos include frontier areas.
The Minister for Resources and Energy, Martin Ferguson AM MP, said the new investment was both welcome and timely.
“Liquefied natural gas is forecast to be Australia’s fastest-growing energy export. On the other hand, Australia has a $16 billion trade deficit in crude oil, refined products and LPG, which is also rising,” Minister Ferguson said.
“These permits add greater momentum to offshore development, potentially reducing our dependence on fuel imports and strengthening our energy security.
“Continued exploration of offshore areas is required to maintain a robust offshore petroleum industry.
“Equally important to the future of the industry is ensuring that the highest standards of safety for both workers and the environment are applied from early exploratory activities right through to production and transport.
“Safety is top of mind for government, regulators and industry and that is why the Commonwealth Government is establishing the National Offshore Petroleum Safety and Environmental Management Authority to commence operations from 1 January 2012 and further strengthen our existing regulatory framework.”
A total of 33 work program bids were received for 12 release areas of the second round of the 2010 Offshore Petroleum Exploration Acreage Release which closed on 12 May 2011.
A full list of the exploration permits awarded is attached and further information on acreage release is available at www.petroleum-acreage.gov.au
PERMITS AWARDED
WA-466-P (released as W10-3) in the Rowley Sub-basin of the Roebuck Basin off Western Australia has been awarded to Woodside Energy Ltd and Shell Development (Australia) Pty Ltd. The companies proposed a guaranteed work program of 3590 km2 3D seismic surveying and three exploration wells to an estimated value of $128.2m. The secondary work program consists of 2000 km2 3D seismic reprocessing, geotechnical studies and an exploration well to an estimated value of A$37.9m. There were three other bids for this area.
WA-462-P (released as W10-4) in the Rowley Sub-basin of the Roebuck Basin off Western Australia has been awarded to Woodside Energy Ltd and Shell Development (Australia) Pty Ltd. The companies proposed a guaranteed work program of 3585 km2 new 3D seismic surveying, geotechnical studies and an exploration well to an estimated value of A$58.1m. The secondary work program consists of 2000 km2 3D seismic reprocessing, geotechnical studies and an exploration well to an estimated value of A$37.9m. There were three other bids for this area.
WA-464-P (released as W10-5) in the Rowley Sub-basin of the Roebuck Basin off Western Australia has been awarded to Woodside Energy Ltd and Shell Development (Australia) Pty Ltd. The companies proposed a guaranteed work program of 3595 km2 new 3D seismic surveying and four exploration wells to an estimated value of A$163.2m. The secondary work program consists of 2000 km2 3D reprocessing, geotechnical studies and one exploration well to an estimated value of A$37.9m. There were three other bids for this area.
WA-465-P (released as W10-8) in the Beagle Sub-basin, the Carnarvon Basin, off Western Australia has been awarded to Woodside Energy Ltd. The company proposed a guaranteed work program of geotechnical studies and 1211 km2 3D seismic surveying to an estimated value of A$9m. The secondary work program consists of an exploration well and geotechnical studies to an estimated value of A$37.9m. There was one other bid for this area.
WA-467-P (released as W10-9) in the Beagle Sub-basin, the Carnarvon Basin, off Western Australia has been awarded to Woodside Energy Ltd. The company proposed a guaranteed work program of 351 km2 of new 3D seismic surveying and geotechnical studies to an estimated value of A$3.8m. The secondary work program consists of one exploration well and geotechnical studies to an estimated value of A$36.5m. There were three other bids for
WA-461-P (released as W10-23) in the Exmouth Sub-basin of the Carnarvon Basin off Western Australia has been awarded to Woodside Energy Ltd and Mitsui E&P Australia Pty Limited. The company proposed a guaranteed work program comprising licensing of 480 km2 of new multi-client 3D seismic data, 395 km2 3D seismic reprocessing, 157 km2 new 2D surveying and geotechnical studies to an estimated value of A$7.8m. The secondary work program consists of 480 km2 3D seismic reprocessing, geotechnical studies and one exploration well to an estimated value of A$36.9m. There were two other bids for this area.
WA-463-P (released as W10-24) in the Exmouth Sub-basin of the Carnarvon Basin off Western Australia has been awarded to Woodside Energy Ltd and Mitsui E&P Australia Pty Limited. The companies proposed a guaranteed work program comprising of licensing of 283 km2 of new multi-client 3D seismic data, 217 km2 3D seismic reprocessing, 104 km of new 2D seismic surveying and geotechnical studies to an estimated value of A$5.4m. The secondary work program consists of 283 km2 3D seismic reprocessing, geotechnical studies and an exploration well to an estimated value of A$36.7m. There were three other bids for this area.
WA-460-P (released as W10-25) in the Exmouth Sub-basin of the Carnarvon Basin off Western Australia has been awarded to Cottesloe Oil and Gas Pty Ltd, Strike Energy Limited and WHL Energy Limited. The companies proposed a guaranteed work program comprising geotechnical studies, 92 km 2D reprocessing, 9.5 km new 2D seismic surveying and 81 km2 new 3D seismic surveying to an estimated value of A$1.2m. The secondary work program consists of one exploration well and geotechnical studies to an estimated value of A$60.2m. There was one other bid for this area.
WA-459-P (released as W10-1) in the Petrel Sub-basin of the Bonaparte Basin off Western Australia and the Northern Territory has been awarded to Santos Oil and Gas Pty Ltd. The company proposed a guaranteed work program comprising geotechnical studies, 300 km new 2D seismic surveying and 865 km 2D seismic reprocessing to an estimated value of A$3.5m. The secondary work program consists of one exploration well and geotechnical studies to an estimated value of A$20.5m. There were two other bids for this area.