Australian onshore petroleum acreage release 2016

Abstract

This paper compiles material from state and territory jurisdictions describing the location and resource potential of Australian onshore and coastal waters acreage to be made available for petroleum exploration in 2016. The Australian state and territory governments continue to support investment in the petroleum industry through the annual provision of land for exploration, which is promoted nationally and internationally. Technical assessments are provided with the release, which detail the potential for conventional and/or unconventional resources. The level of assessment will depend on exploration maturity, but may include a description of the geological setting, review of exploration history, summary of key results, and subsurface maps/sections. In addition to this, any updates on recent upstream developments and government initiatives, as well as present and future policy directions that relate to onshore petroleum exploration, may be described, particularly for jurisdictions that are not making land available this year. With global demand for gas—led by Asia—expected to grow at 2.6% annually between 2015 and 2025, investing in Australia’s petroleum and gas industry presents a significant opportunity to supply into this growing market.