Australia-based Tangiers Petroleum has been granted petroleum exploration permit NT/P83 (NT/P83) by the National Offshore Petroleum Titles Administrator.
The permit NT/P83 (formerly Release Area NT P11-1) is located in the Arafura Sea to the north of Melville Island and the Coburg Peninsula, 100km north of Darwin.
It comprises an area of approximately 15,000 square kilometres and lies in waters shallower than 200m.
The proposed exploration programme will initially focus on performing geotechnical studies and the acquisition of 500km of 2D seismic data.
Mark Ceglinski, Tangiers Petroleum executive chairman, said: "The grant of NT/P83 is a exciting step in furthering the company's strategy to expand its exploration portfolio and leveraging the company's technical expertise to identify potential leads and plays in areas believed to be highly prospective for hydrocarbons."
The permit lies in the Money Shoals Basin, while part of the acreage extends into the Arafura Basin with folded and faulted Palaeozoic to lower Mesozoic rocks.
The Golburn Graben is also present in a portion of the permit and is a dominant north-west to south-east Palaeozoic intracratonic rift basin.
Because of several age units of source and reservoir rocks, this permit area also is expected to be highly prospective for hydrocarbons.
A number of exploration wells have been drilled in the vicinity of the permit, with gas discoveries to the west in wells Caldita-1, Lynedoch-1 and ST-1, Lynedoch-2 and gas shows in the Beluga-1 well.
Oil shows were encountered to the east of the permit in the Kulka-1 and Tasman-1 wells.
The large Evans Shoals and Abadi gas fields are located to the west and north-west of the permit in the Malita Graben-Darwin shelf area.
Image: Tangiers Petroleum has been granted petroleum exploration permit NT/P83 (NT/P83) by NOPTA: Photo courtesy of: Nasa.