Chevron, Santos and Murphy Oil get exploration permits

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Image credit: flick.com

Three new exploration permits have been issued in the Great Australian Bight to Chevron, Santos and Murphy Australia Oil, according to the latest release by the Government of South Australia.

Image credit: flick.com
Image credit: flickr.com

This decision confirmed the continuation of the energy revolution. The $599 million-worth exploration programs are aimed at creating jobs and service opportunities.

“South Australia’s energy revolution continues to attract major interest from local and overseas companies wanting to join the search to unlock our oil and gas potential,” said Tom Koutsantonis, Minister for Mineral Resources and Energy.

“Not only is the Cooper Basin attracting attention, but the Bight Basin in Commonwealth waters off the South Australian coast is also being acknowledged as a target for exploration.”

“Advances in exploration techniques and new ways of thinking about Australia’s geology mean we can again open the Bight Basin to explorers.”

Adertisement

“Previous drilling in the region in the early 1990s has encouraged explorers to return to the Bight Basin to seek out the potential for large oil and gas accumulations,” Mr. Koutsantonis concluded.

25,600 km2 of new 3D and 4,000 km of new 2D seismic surveys and four exploration wells are included in the primary and secondary work programs.

Mr. Koutsantonis further added that increasing exploration is crucial for finding the next offshore petroleum province.

The permits extend from the continental edge in water depths of 150m increasing to depths up to 3,700m in the eastern Bight Basin.

Bill Ovenden, Head of Exploration at Santos expressed his delight to have secured acreage in the Ceduna sub-basin, 200 km of the coast of South Australia, in Commonwealth waters.

“While there’s been very little exploration in this region, we would rate the Ceduna as one of the last true unexplored deltas in the world. It is a high potential frontier basin, with commensurate risk,” he said.

All activities which incorporate petroleum exploration and development in Australian waters are subject to strict reporting requirements and environmental standards.