2012 offshore petroleum exploration acreage release
Tania ConstableDepartment of Resources, Energy and Tourism
The APPEA Journal 52(1) 1-6 https://doi.org/10.1071/AJ11001
Published: 2012
Abstract
Australia has abundant natural gas reserves and is experiencing a rapid expansion of its liquefied natural gas (LNG) production capacity. In 2011 alone, four Australian LNG projects received final investment decisions (FIDs) and another FID was made in the first weeks of 2012. These projects will add more than 33 million tonnes of new LNG capacity, represent more than $100 billion in investment, and will see Australia become the world’s second largest LNG exporter by 2015.
These projects are underpinned by Australia’s stable economic environment and our effective and efficient legislative regime that provides the industry the confidence to pursue a variety of investment opportunities. The essential first step covered by this regime is exploration, which is supported by Australia’s annual Offshore Petroleum Exploration Acreage Release. Prepared by the Department of Resources, Energy and Tourism and Geoscience Australia, the annual Acreage Release is the key mechanism used by the Australian Government to encourage investment in petroleum exploration.
The 2012 Acreage Release areas have been carefully selected to offer the global petroleum exploration industry a variety of investment opportunities. Areas vary in size, level of existing geological knowledge, and are located in a range of water depths. Selected areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia.
The detailed Acreage Release information package is available at online at www.petroleum-acreage.gov.au or by visiting the Commonwealth Government’s booth at the APPEA conference.
Tania Constable is Head of the Resources Division in the Department of Resources, Energy and Tourism, Canberra, Australia. The Resources Division provides policy advice to the Australian Government on resources legislation and administration related to the petroleum, coal, minerals and uranium industries. Ms Constable 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 Gas Committee for the Standing Committee on Energy and Resources and is serving on the CSIRO Advisory Councils for the Minerals Sector and Energy and Transport Sector. Ms Constable has extensive experience across the Resources and Energy portfolio having held various Senior Executive Service positions over the last 10 years. From 2008 to March 2010 she held the position of Principal Adviser, Resources and Energy Policy, working on the Government’s Energy White Paper. Prior to this she held General Manager positions in Energy Policy, Resources Development and Downstream Petroleum. petroleum.exploration@ret.gov.au |
