16-04-09 Australia has awarded 13 new offshore petroleum permits in Commonwealth waters, after receiving commitments for a total of A$ 155 mm ($ 112 mm) in exploration spending in the areas, federal Minister for Resources and Energy Martin Ferguson said.
"The enthusiasm the industry has shown for these petroleum exploration permits highlights the industry's confidence in Australia's prospectivity -- a total of 43 bids were received for 17 areas included in the first closing round of the 2008 release," Ferguson said. "This is a spectacular result."

Local exploration and production company Woodside Petroleum, Japan's Mitsui and US independent Apache were among the most prominent players in the bidding for the permits, all of which are located off Australia's northwest coast. A joint venture between Woodside and Mitsui E&P Australia was awarded the AC08-8 permit in the Browse Basin in the Territory of Ashmore and Cartier Islands.
Woodside and Mitsui also won the W08-9 permit in the Browse Basin off Western Australia. In the same region, US-based Hunt Oil and South Korea's SK Energy were awarded W08-8 and W08-10.

Apache and Kuwait's Kufpec teamed up to take W08-16 in the Carnarvon Basin off Western Australia, while Apache was successful with a solo bid for the nearby W08-17, and Woodside and Mitsui took the region's W08-19 and W08-20 permits.
Five permits were awarded in the Bonaparte Basin in the Territory of Ashmore and Cartier Islands, going to Bengal Energy (AC08-1); Silver Wave Energy (AC08-2, AC08-5 and AC08-6); and Tata Petrodyne (AC08-4). The new permits are to be jointly administered by the Australian federal and respective state and territory governments. The areas are awarded for an initial term of six years, and may be renewed twice for periods of five years.

"New petroleum discoveries are essential to the Australian economy," Ferguson said.
"Australia is no longer a net exporter of transport fuels; indeed, our trade deficit in petroleum liquids grew to almost A$ 15 bn last year, meaning exploration is more important than ever."