The Western Australian (WA) Department of Mines and Petroleum has called for industry applicants to bid on five onshore release areas within the Canning Basin region of central-northern WA.
The release areas vary in size, from 5,324km² to 6,667km².
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Opened at the Australian Petroleum Production and Exploration Association (APPEA) conference in Perth, the release provides opportunities for explorers to invest in the oil and gas sector and offer long-term support in investing and developing WA's petroleum resources.
In October 2011 and March 2016, new oil play discoveries at Ungani and Ungani Far West 1 respectively have led to an increase in interest in the Canning Basin within recent years.
Oil and gas shows were also reported in the Ordovician Goldwyer Formation shale in the Theia 1 well, drilled in July and August 2015.
Mines and Petroleum Minister Bill Johnston said: "The McGowan Labour Government is committed to building opportunities within the state's natural resources industry.
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By GlobalData"When the winning bidder is announced, they must gain Native Title agreement before an Exploration Permit (EP) is granted.
"The granting of an EP for a six-year period gives the title holder exclusive rights to explore.
"Petroleum activities are rigorously assessed and approved by the department before work can begin and other approvals, such as the Environmental Protection Authority, will be sought."
According to the department, nominations for the acreage release have to be filed before 1 February 2018 and any awarded acreage will be subject to the State Government's policy, with respect to hydraulic fracturing.
