Australia Grants 13 Offshore Petroleum Exploration Permits

CANBERRA (Dow Jones Newswires), November 24, 2008

Australia's Energy Minister Martin Ferguson announced Monday that the government has granted 13 new offshore petroleum exploration permits representing A$500 million of investment in the sector.

"In the current economic climate, it is encouraging that so many companies want to invest in the future of Australia's petroleum industry," Ferguson said in a statement.

"Exploration is vital to prove up new reserves and maintain a pipeline of new developments for the nation's ongoing energy security and future exports," he said.

Of the 13 new permits, four were in the Browse Basin, off Western Australia state, to Hunt Oil Company, Murphy Australia and Nexus Energy Ltd.; three permits were in the Canning Basin, off Western Australia, to Woodside Petroleum Ltd.; one permit was in the Canarvon Basin, off Western Australia, to Finder Exploration Pty Ltd.; three were in the Bonaparte Basin, off Western Australia, to Goldsborough Energy Pty Ltd. and National Oil Corp. Pty Ltd.; and two permits were in the Bonaparte Basin off the Northern Territory, to Essar Exploration & Production Ltd.

A total of 24 bids were received for the 13 areas of the 2007 release. The new permits will be jointly administered by the federal government, and the Western Australia state and Northern Territory governments.  

Copyright (c) 2008 Dow Jones & Company, Inc.

Company: Woodside more info
Operates 3 Offshore Rigs
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: Murphy Oil Corporation more info
 - Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
 - Murphy Oil CEO: Now is the Time for Deepwater to Come Back (May 02)
 - Pilot Energy Inks Deal to Acquire Murphy's Stake in Permit WA-481-P Off WA (Jul 27)
Company: Hunt Oil more info
 - Hunt Oil Company Says It Will Cut 10% Of Its Workforce (Apr 07)
 - Pluspetrol to Invest $500M in Peru Natgas Block (Aug 04)
 - KNOC Subsidiary Gathers Canadian Assets From Hunt (Dec 15)
Company: Nexus Energy more info
 - Nexus Resumes Production at Longtom-4 Well in Gippsland Basin (Mar 12)
 - Nexus Updates on Plans to Divest its Crux, Longtom Assets in Australia (Feb 21)
 - Santos Suspends Production at Patricia-Baleen Gas Processing Plant (Jan 14)
Company: Finder Exploration Pty Ltd more info
 - Finder Sells Entire Acreage Holding Off WA to Quadrant Energy Australia (May 03)
 - Planning Underway to Drill Roc-2 Appraisal Well Off WA in 2H 2016 (Mar 17)
 - Carnarvon Confirms Condensate Rich Gas Find at Roc-1 Well in Block WA-437-P (Jan 18)
Company: Essar Exploration & Production Limited more info
 - Australia Grants 13 Offshore Petroleum Exploration Permits (Nov 24)
 - Indonesia Awards 22 Oil, Gas Blocks to Boost Exploration, Output (Oct 17)
 - Essar Commissions Fugro for Airborne Survey of Madagascar (Jul 14)