BP has received four deepwater offshore blocks in the Ceduna Sub Basin within the Great Australian Bight, off the coast of South Australia.

BP will explore a exploration permit for petroleum areas EPP 37, EPP 38, EPP 39 and EPP 40 over an area of 24,000km² for oil and gas reserves.

The firm will also have the right to develop any commercially viable discoveries in the permits.

BP executive vice-president of exploration Mike Daly said that this is a material and early move into an unexplored deepwater basin.

The exploration activity will be carried out over six years and be subject to detailed environmental assessment.