2014 Offshore Petroleum Exploration Acreage Release
Tania ConstableAustralian Government Department of Industry
The APPEA Journal 54(1) 377-382 https://doi.org/10.1071/AJ13039
Published: 2014
Abstract
The potential for natural gas to fuel economic growth around the world is tremendous. Australia has a pivotal role to play with our abundant natural gas reserves and record levels of investment in LNG production capacity. Australia is presently the world’s third-largest exporter of LNG, with an export capacity of 24.3 million tonnes per annum (mtpa) from three operational projects. Capacity will increase to around 90 mtpa by 2018, once the seven projects being constructed come online.
The Australian Government is committed to ensuring the long-term growth of the petroleum industry, and the promotion of competitive, sustainable and well-regulated markets operating in the best interests of the nation.
Exploration is essential for the future of Australia’s resources sector to enhance our international competitiveness while maintaining Australian energy security and that of our energy trading partners. Investment in offshore petroleum exploration is facilitated though the annual Offshore Petroleum Exploration Acreage Release prepared by the Australian Government Department of Industry and Geoscience Australia. The Offshore Petroleum Exploration Acreage Release is underpinned by a stable economic environment and clear regulatory framework that provides investment certainty and security of title.
This paper provides details about the acreage included in the 2014 Offshore Petroleum Exploration Acreage Release. All areas are supported by geological data and analysis from Geoscience Australia. This paper also discusses the introduction of cash bidding for mature areas and areas containing known petroleum accumulations, in addition to Australian Government initiatives in the offshore petroleum sphere.
Tania Constable is Head of the Resources Division in the Australian Government Department of Industry, Canberra. The Resources Division provides policy advice to the Australian Government on resources legislation and administration related to the petroleum, coal, minerals, and uranium industries. It is also responsible for carbon capture and storage initiatives both domestically and internationally. Tania holds statutory positions as the Timor Sea Treaty Joint Commissioner and International Unitisation Agreement Sunrise Commissioner. She is also the Chair of the Upstream Petroleum and Offshore Minerals Working Group of the Standing Committee on Energy and Resources, and is serving on the CSIRO Advisory Council for the Minerals Downunder Flagship. Tania has extensive experience across the Resources and Energy portfolio having held various Senior Executive Service positions during the past 10 years. From 2008 to March 2010 she held the position of Principal Adviser, Resources and Energy Policy, working on the former government’s Energy White Paper. Prior to this she held General Manager positions in Energy Policy, Resources Development, and Downstream Petroleum. Tania was awarded a Public Service Medal in 2014 for her services to the resources industry. petroleum.exploration@industry.gov.au |
