The State Government has released 13 new areas for oil and gas exploration in the Canning, Carnarvon and Perth Basins, State Resources Minister Francis Logan announced today.
The full text of a Ministerial announcement is pasted below
The State Government is releasing 13 new areas for oil and gas exploration in the Canning, Carnarvon and Perth Basins.
Resources Minister Francis Logan announced the acreage releases today and said bidding for the areas had the potential to greatly benefit Western Australia.
"The State's resources sector is the driving force behind WA's thriving economy and petroleum is the State's largest sector by value," Mr Logan said.
"Petroleum exploration in WA is reaching new heights and now accounts for 56 per cent of Australia's total petroleum exploration.
"From 2005 to 2006, petroleum exploration increased by 65 per cent in WA - from $572million to $942million."
The new acreages include eight areas in the Canning Basin, four in the Carnarvon Basin and one in the Perth Basin.
The Canning Basin release areas range in size from 321 to 9,971sq.km, with four in the south and four in the north.
The Minister said there had been increased interest in the Canning Basin in recent years, with bids for acreage involving Australian and Canadian companies.
"Up to 10 wells may be drilled this year in the Canning Basin, a significant increase on previous years," he said.
"The Carpenter Government is making decisions for the future and will continue to promote the petroleum potential of WA's vast sedimentary basins."
