New investments in Australia offshore exploration

In Australia, new offshore petroleum exploration promises $580 million over the next three years, following the granting of exploration permits in Commonwealth waters off Western Australia and South Australia.

Offshore staff

CANBERRA, Australia – New offshore petroleum exploration promises $580 million over the next three years, following the granting of exploration permits in Commonwealth waters off Western Australia and South Australia.

Industry Minister Ian Macfarlane announced the new permits, as part of the second round of the2012 Offshore Petroleum Exploration Acreage Release.

The flow-on benefits of these permits will see up to a total of $730 million in exploration investment over the next six years.

10/27/2013

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