Transparency to stakeholders for proposed future acreage release areas
|Date:||Thursday, 22 June 2017|
The Department of Mines and Petroleum (DMP) will implement a medium to long-term, strategic approach for acreage releases over the next five years.
The five-year Acreage Release Schedule maps of the Canning and Perth Basins highlight potential regions for acreage release areas over a five year period which will be opened for completive bid rounds.
DMP Executive Director Petroleum Jeff Haworth said the aim was to provide more transparency to the oil and gas industry and to other stakeholders for proposed future acreage release areas.
"The advertisement of blocks for competitive bidding is the department's preferred mechanism for industry to acquire an exploration title for petroleum in Western Australia," Mr Haworth said.
"The acreage release schedule will be updated at least once a year after each acreage release round, and when significant amounts of new prospectivity data or acreage becomes available to warrant a review.
"The legend 2018-2019, for example, means acreage will be considered for release in either 2018 or 2019. In addition to the mapped regions, upcoming relinquishment acreage may be considered for re-release in future rounds.
"Within a given region, discrete acreage release areas will be configured based on geological prospectivity, environmental factors, native title and cultural constraints, and land use considerations."
Industry is also encouraged to nominate specific areas for acreage release, which will be considered within the year it is nominated. Such nominated areas will be subject to these same considerations as previously mentioned.
The maps advise stakeholders of the following:
- Upcoming areas likely to be released for competitive bidding;
- Areas that are not currently available for SPA-AO applications owing to future planned release;