2013 offshore petroleum exploration acreage release

2013 ◽  
Vol 53 (1) ◽  
pp. 63
Author(s):  
Tania Constable
Keyword(s):  
Capital Expenditure ◽  
Petroleum Industry ◽  
Production Capacity ◽  
Rapid Expansion ◽  
Petroleum Exploration ◽  
Production Models ◽  
Investment Opportunities ◽  
Trading Partners ◽  
Under Construction ◽  
Offshore Petroleum

Exploration is essential for the future of Australia’s resources sector, to enhance our international competitiveness and ensure the long-term growth of this important industry while maintaining Australian energy security and that of our major energy trading partners. Encouraging investment in offshore petroleum exploration is facilitated though the annual Offshore Petroleum Exploration Acreage Release prepared in collaboration between the Department of Resources, Energy and Tourism, and Geoscience Australia. The annual release is underpinned by a stable economic environment, and a regulatory framework that provides the industry with a variety of investment opportunities. Australia has abundant natural gas reserves and is experiencing a rapid expansion of its LNG production capacity. Today, Australia is the world’s fourth-largest exporter of LNG, with a total export capacity of 24.3 million tonnes per annum from its three operational projects. Capacity will further increase to around 80 million tonnes per annum in 2017 once the seven projects presently under construction come online. These projects represent more than US$175 billion in capital expenditure announced since mid-2007, and result in Australia becoming the only country to use three LNG production models: conventional offshore gas with onshore LNG production; FLNG production; and, CSG-based LNG production. This paper will provide detail about the acreage included in the 2013 Offshore Petroleum Exploration Acreage Release. Areas are carefully selected to offer the global petroleum industry a variety of investment opportunities. This paper will also discuss the supporting regulatory environment and new government initiatives, including the introduction of a five-year exploration strategy for acreage release and the introduction of a cash bidding system as part of future offshore petroleum acreage releases.

2012 offshore petroleum exploration acreage release

2012 ◽  
Vol 52 (1) ◽  
pp. 1
Author(s):  
Tania Constable
Keyword(s):  
Natural Gas ◽  
Production Capacity ◽  
Investment Decisions ◽  
Rapid Expansion ◽  
Petroleum Exploration ◽  
Australian Government ◽  
Investment Opportunities ◽  
Water Depths ◽  
Made In ◽  
Offshore Petroleum

Australia has abundant natural gas reserves and is experiencing a rapid expansion of its liquefied natural gas (LNG) production capacity. In 2011 alone, four Australian LNG projects received final investment decisions (FIDs) and another FID was made in the first weeks of 2012. These projects will add more than 33 million tonnes of new LNG capacity, represent more than $100 billion in investment, and will see Australia become the world’s second largest LNG exporter by 2015. These projects are underpinned by Australia’s stable economic environment and our effective and efficient legislative regime that provides the industry the confidence to pursue a variety of investment opportunities. The essential first step covered by this regime is exploration, which is supported by Australia’s annual Offshore Petroleum Exploration Acreage Release. Prepared by the Department of Resources, Energy and Tourism and Geoscience Australia, the annual Acreage Release is the key mechanism used by the Australian Government to encourage investment in petroleum exploration. The 2012 Acreage Release areas have been carefully selected to offer the global petroleum exploration industry a variety of investment opportunities. Areas vary in size, level of existing geological knowledge, and are located in a range of water depths. Selected areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia. The detailed Acreage Release information package is available at online at www.petroleum-acreage.gov.au or by visiting the Commonwealth Government’s booth at the APPEA conference.

2014 Offshore Petroleum Exploration Acreage Release

2014 ◽  
Vol 54 (1) ◽  
pp. 377
Author(s):  
Tania Constable
Keyword(s):  
Natural Gas ◽  
Petroleum Industry ◽  
Production Capacity ◽  
Petroleum Exploration ◽  
Best Interests ◽  
Australian Government ◽  
Regulated Markets ◽  
Trading Partners ◽  
Offshore Petroleum

The potential for natural gas to fuel economic growth around the world is tremendous. Australia has a pivotal role to play with our abundant natural gas reserves and record levels of investment in LNG production capacity. Australia is presently the world’s third-largest exporter of LNG, with an export capacity of 24.3 million tonnes per annum (mtpa) from three operational projects. Capacity will increase to around 90 mtpa by 2018, once the seven projects being constructed come online. The Australian Government is committed to ensuring the long-term growth of the petroleum industry, and the promotion of competitive, sustainable and well-regulated markets operating in the best interests of the nation. Exploration is essential for the future of Australia’s resources sector to enhance our international competitiveness while maintaining Australian energy security and that of our energy trading partners. Investment in offshore petroleum exploration is facilitated though the annual Offshore Petroleum Exploration Acreage Release prepared by the Australian Government Department of Industry and Geoscience Australia. The Offshore Petroleum Exploration Acreage Release is underpinned by a stable economic environment and clear regulatory framework that provides investment certainty and security of title. This paper provides details about the acreage included in the 2014 Offshore Petroleum Exploration Acreage Release. All areas are supported by geological data and analysis from Geoscience Australia. This paper also discusses the introduction of cash bidding for mature areas and areas containing known petroleum accumulations, in addition to Australian Government initiatives in the offshore petroleum sphere.

2010 Offshore petroleum exploration release

2010 ◽  
Vol 50 (1) ◽  
pp. 1
Author(s):  
John Hartwell
Keyword(s):  
Water Depth ◽  
Regulatory Framework ◽  
Geophysical Data ◽  
Petroleum Exploration ◽  
Economic Environment ◽  
Geological Data ◽  
Australian Government ◽  
Investment Opportunities ◽  
Offshore Petroleum

The sustainable annual release of quality petroleum exploration acreage, to provide the global petroleum exploration industry with a variety of investment opportunities in Australian waters, is a key objective of the Australian Government. The annual Offshore Petroleum Exploration Acreage Release (Acreage Release) is underpinned by Australia’s stable economic environment and well-established regulatory framework for offshore petroleum activities. The 2010 Acreage Release areas are located across five basins. Release areas have been carefully selected to offer a range of investment opportunities; areas vary in size, known prospectivity, water depth and level of existing geological data and knowledge. Areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia.

Onshore petroleum exploration acreage release

2013 ◽  
Vol 53 (1) ◽  
pp. 115
Author(s):  
Peter Green
Keyword(s):  
Petroleum Industry ◽  
Sedimentary Basins ◽  
Northern Territory ◽  
Petroleum Exploration ◽  
Tight Gas ◽  
Release Process ◽  
Petroleum Potential ◽  
Major Development ◽  
Under Construction ◽  
Exploration Activity

The petroleum industry in Australia is going through a major development phase with export LNG projects under construction on both the east and west coasts. Initial exploration for shale and tight gas has opened up new plays as well as increasing interest in many sedimentary basins that have been overlooked. Access to land onshore in Australia for petroleum exploration is, in some States, through a formal release process by the relevant jurisdiction. This is a compilation of material supplied by the States and Northern Territory in relation to land being made available onshore for petroleum exploration. Not all jurisdictions have new acreage available for exploration. In these cases, new initiatives being undertaken that directly relate to accessing land for exploration or the present state of exploration activity will be highlighted. Land that is being made available for exploration will generally be accompanied by information regarding its geological setting and petroleum potential. Previous exploration activity may be in summaries, including information in relation to the amount of pre-existing data available to future explorers. Exploration opportunities may include conventional and unconventional targets. The review of the areas may also include maps and sections related to the land being made available.

2011 offshore petroleum exploration acreage release

2011 ◽  
Vol 51 (1) ◽  
pp. 1
Author(s):  
Tania Constable
Keyword(s):  
Sustainable Development ◽  
Energy Consumption ◽  
Energy Security ◽  
Petroleum Exploration ◽  
China And India ◽  
Investment Opportunities ◽  
Petroleum Reserves ◽  
Economic Considerations ◽  
Water Depths ◽  
Offshore Petroleum

Australia has abundant natural gas reserves and is presently the world's fourth largest exporter of LNG. New projects and strengthening demand, led by rising energy consumption in China and India, is expected to increase Australia’s ranking to second by 2015. The discovery of new petroleum reserves also has the potential to reduce Australian energy import dependence and increase supply certainty.With sustainable development and energy security in mind, the Department of Resources, Energy and Tourism is leading the development of the Government’s resources policy to facilitate investment in Australia’s upstream petroleum industry.The 2011 Australian Offshore Petroleum Exploration Acreage Release offers the global petroleum exploration industry a variety of investment opportunities. Release areas are located across nine basins, vary in size and level of existing geological knowledge, are located in a range of water depths, and are supported by pre-competitive and open-file geological and geophysical data.The Acreage Release is underpinned by a stable economic environment and well established regulatory framework, which seeks to balance environmental, social and economic considerations during the development of Australia’s natural resources.The detailed Acreage Release information package is available at online at www.petroleum-acreage.gov.au or by visiting the Commonwealth Government’s booth at the APPEA conference.

2015 Offshore Petroleum Exploration Acreage Release

2015 ◽  
Vol 55 (1) ◽  
pp. 67
Author(s):  
Demus King
Keyword(s):  
Oil And Gas ◽  
Petroleum Exploration ◽  
Regulatory Regime ◽  
Good Standing ◽  
Challenges And Opportunities ◽  
Petroleum Resources ◽  
Australian Economy ◽  
Under Construction ◽  
High Level ◽  
Offshore Petroleum

The oil and gas sector is a key contributor to the Australian economy, contributing $30.8 billion in commodity export earnings in 2013–14 (Department of Industry and Science, 2015). Underpinning future growth in the value of oil and gas to the Australian economy is the almost $200 billion of investment in seven LNG projects under construction. Australia relies on foreign capital to continue to explore for, and develop, its natural resources. New challenges and opportunities are arising for the sector. Increased international competition, advancing technology, and increasing risks and volatile costs associated with the development of fields are features of the current offshore operating environment. Australia’s legislative and policy settings must be sufficiently robust and flexible to support the continued development of Australia’s offshore resources into the future. To this end, the Australian Government is undertaking a high-level strategic review of the resource management framework for offshore petroleum resources in Commonwealth waters. The review will test the robustness of the policy, legal and regulatory regime to ensure the framework remains flexible enough to keep pace with the evolving environment and continues to attract investment. The annual Offshore Petroleum Exploration Acreage Release facilitates new investment in offshore petroleum exploration. The 2015 Acreage Release is accompanied by an updated exploration guideline. The guideline increases flexibility in permit management and clarifies competitive work program bidding expectations and good standing as well as providing more flexibility in the way good standing agreements may be discharged. This will enable industry to undertake exploration with increased autonomy and reduce the administrative burden. It accommodates changing technological capacity and encourages increased exploration in Australia’s offshore waters.

2021 Offshore petroleum exploration acreage release

2021 ◽  
Vol 61 (2) ◽  
pp. 291
Author(s):  
Paul Trotman
Keyword(s):  
Manufacturing Industry ◽  
Oil And Gas ◽  
Domestic Demand ◽  
Liquefied Natural Gas ◽  
Petroleum Exploration ◽  
Demand Growth ◽  
Regulatory Frameworks ◽  
The Future ◽  
Policy Work ◽  
Offshore Petroleum

In 2020, the liquefied natural gas (LNG) trade saw a modest increase of 1%, which is in contrast to the strong growth of previous years. Recently, the global LNG trade has picked up following the easing of impacts from the pandemic and demand growth in Asia. An increase of 6% in the global LNG trade is expected in 2021 and 2022. Domestic demand for gas remains high, with gas being used both for residential supply and also as an essential feedstock for the manufacturing industry. With a projected domestic gas shortfall, the future exploration and development of oil and gas will play a key role in ensuring access to secure, reliable and affordable energy in the future as well as assisting economic recovery from the pandemic. The importance of remaining an attractive investment destination is essential. Our challenge is to not only strike the balance of being agile and adaptive to market disruptions but also provide robust policy and regulatory frameworks to underpin future investment in the sector. Against this backdrop, this paper provides details of the 2021 offshore petroleum exploration acreage release and information about the ongoing policy work of the department.

Offshore Vessels and Their Unique Applications for the Systems Designer

1995 ◽  
Vol 32 (01) ◽  
pp. 43-76
Author(s):  
Paul R. Geiger ◽  
Calvin V. Norton
Keyword(s):  
Petroleum Industry ◽  
The Self ◽  
Surface Type ◽  
Distinct Category ◽  
Marine Engineer ◽  
Marine Engineering ◽  
Electrical Components ◽  
Marine Vessels ◽  
Jack Up ◽  
Offshore Petroleum

Offshore vessels are industrial vessels primarily utilized in the offshore petroleum industry for exploration or exploitation of subsea resources. The most common types of offshore vessels in use today are the column-stabilized semisubmersible unit, the self-elevating or jack-up unit, and surface-type units such as the drillship and barge. In the truest sense, whether they are operational afloat, as are the semisubmersible, drillship and barge, or operational while bottom supported, as is the jack-up, due to their mobility they are marine vessels with systems nominally the same as conventional ships. Due to their mission requirements, however, their systems have features that are unique when analyzed by the traditional marine engineer, and although these vessels contain mechanical and electrical components similar to those used in conventional ships, they serve different systems and have unique applications. This paper discusses the major marine engineering aspects of mobile offshore vessels that are unique and which have made them a distinct category of marine vessel.

Integration of Geophysical Technologies in the Petroleum Industry

2021 ◽  
Keyword(s):  
Co2 Storage ◽  
Petroleum Industry ◽  
Petroleum Exploration ◽  
Reflection Seismology ◽  
Seismic Reflection Data ◽  
Reflection Data ◽  
Advanced Students ◽  
Storage Reservoirs ◽  
Magnetic Resistivity ◽  
Exploration And Production

The most utilized technique for exploring the Earth's subsurface for petroleum is reflection seismology. However, a sole focus on reflection seismology often misses opportunities to integrate other geophysical techniques such as gravity, magnetic, resistivity, and other seismicity techniques, which have tended to be used in isolation and by specialist teams. There is now growing appreciation that these technologies used in combination with reflection seismology can produce more accurate images of the subsurface. This book describes how these different field techniques can be used individually and in combination with each other and with seismic reflection data. World leading experts present chapters covering different techniques and describe when, where, and how to apply them to improve petroleum exploration and production. It also explores the use of such techniques in monitoring CO2 storage reservoirs. Including case studies throughout, it will be an invaluable resource for petroleum industry professionals, advanced students, and researchers.

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