APPEA, in collaboration with the Department of Industry, Innovation and Science will host an APPEA Connect Series Event to mark the launch of the 2019 Offshore Petroleum Exploration Acreage Release. In an APPEA first, the session will be live-streamed around the world for participants who cannot attend in person. This is the first release of areas under the new streamlined acreage release model. The Department will officially announce the 2019 areas, and provide a snapshot of the new approach – as well as the analysis undertaken to support it.
Acreage Releases
Seven Australian exploration permit awards target $530 million
The Australian Government has awarded seven offshore exploration permits which it believes could yield an investment of more than $530 million over the next six years. Minister for Resources and Northern Australia Matt Canavan said the granting of seven permits finalised the Government’s 2017 Offshore Petroleum Exploration Acreage Release. According to the minister, strong bidding for round one of the 2018 Offshore Petroleum Exploration Acreage Release had been “encouraging” and new permits could see more than $530 million invested over the next six years.