01_1_HartwellJ_ppt

8/7/2019 01_1_HartwellJ_ppt

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2009 Offshore Petroleum AcreageRelease


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Outline of Presentation

Deepwater drillingsuccesses inAustralia

Why Australia is anattractiveinvestmentdestination.

Process of awardingexploration permits.

Summarise the2009 AcreageRelease.


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Fellow presentersTom BerneckerGeoscience Australia

Review of the 2009 offshore petroleumexploration release areas

Jennifer TotterdellGeoscience Australia

Bight Basin Acreage Release - New ExplorationOpportunities In A Deep Water Frontier

Ian ScrimgeourActing Executive Director of RegionalDevelopment, Primary Industry, Fisheries andResources - Northern Territory

Onshore Releases across Australian States andTerritories


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Deep water drilling success

Deepwater wells (over 500 metres) success rates

0

1

2

3

4

5

6

7

8

9

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Year

Numberofoccurrences

success dry


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Australia is a world class investment

destination

Australia is very well regarded.Regarded stable, possesses good fiscal terms, and hasunexplored acreage with much potential.

14th out of 81 jurisdictions for having the lowest barriers toinvestment.


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Government activity

Review of explorationincentives in Energy WhitePaper and Henry Tax Review

Productivity Commission's

Review

Designated Frontier Areasincentive extension


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2009 Acreage Release Areas

31 areas released across5 basins:

Bonaparte, NT.

Browse, WA.

Carnarvon, WA.

Bight, SA.

Otway, Vic.

6 Designated Frontier

Areas: 3 in Carnarvon Basin.

3 in Bight Basin.


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Special Release

The Australian


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Nominations sought each year

Assessment and short listing process

Extensive stakeholder consultations

Proposed areas announced in December through the Australian Petroleum News

2009 Release Package available now

Selection of Release Areas


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Work Program Bidding system

Application must contain technicalassessment, exploration program over6 years and technical and financialcapacity

Assessments based on published

assessment criteria, capacity toundertake proposed work andprogram most likely to advanceexploration status

Conditions specify that work must becompleted in year specified and thatthere is limited flexibility in first 3 years

Cancellation and permit surrender

Exploration Permits


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Comprehensive information package

available Closing dates are 3 December 2009 and

29 April 2010 for the first and second

rounds of bidding respectively.

The areas contained within the SpecialRelease close concurrently with the first

round of the Principal Release.

Both CD-Rom packages now available

from Australian Government stand. Alsoavailable on web:

www.ret.gov.au/petexp/

2009 Acreage Release Package
http://www.ret.gov.au/petexp/http://www.ret.gov.au/petexp/

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