Exploration worth $180m in pipeline

Exploration worth an estimated $180 million is expected to be expended on seven offshore hydrocarbon permits issued to local and international bidders recently.

Major hydrocarbon explorers and producers are among the seven companies which have been awarded the permits in the North West Shelf oil and gas province of Western Australia.

The awards were made jointly by the Commonwealth Resources Minister Senator Nick Minchin and WA Mines Minister Norman Moore.

Mr Moore said the permits – covering about 80,000 square kilometres offshore from Port Hedland and Broome – were granted for areas located between the hydrocarbon producing Northern Carnarvon and Browse basins.

Successful bidders include Woodside Energy Ltd, British Borneo Exploration Inc, BP Petroleum Developments (NWS) Pty Ltd, Oryx NW Shelf Australia Ltd Limited, Shell Development (Australia) Pty Ltd, Chevron Asiatic Ltd, BHP Petroleum (NWS) Pty Ltd and Japan Australia LNG.