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.

PESA Australian exploration review 2018

2019 ◽  
Vol 59 (2) ◽  
pp. 493
Author(s):  
D. Lockhart ◽  
D. Spring
Keyword(s):  
Oil And Gas ◽  
Petroleum Exploration ◽  
3D Seismic ◽  
The North ◽  
Second Year ◽  
Gippsland Basin ◽  
2D And 3D ◽  
Conventional Oil ◽  
Exploration Activity ◽  
Offshore Petroleum

Available data for 2018 indicates that exploration activity is on the rise in Australia, compared to 2017, and this represents a second year of growth in exploration activity in Australia. There has been an increase in area under licence by 92 000 km2, reversing the downward trend in area under licence that commenced in 2014. Since 2016, exploratory drilling within Australia has seen a continued upward trend in both the number of wells drilled and the percentage of total worldwide. Onshore, 77 conventional exploration and appraisal wells were spudded during the year. Offshore, exploration and appraisal drilling matched that seen in 2017, with five new wells spudded: two in the Roebuck Basin, two in the Gippsland Basin and one in the North Carnarvon Basin. Almost 1500 km of 2D seismic and over 10 000 km2 of 3D seismic were acquired within Australia during 2018, accounting for 2.4% and 3.9% of global acquisition, respectively. This represents an increase in the amount of both 2D and 3D seismic acquired in Australia compared with 2017. Once the 2017 Offshore Petroleum Acreage Release was finalised, seven new offshore exploration permits were awarded as a result. A total of 12 bids were received for round one of the 2018 Offshore Petroleum Exploration Release, demonstrating an increase in momentum for offshore exploration in Australia. The permits are in Commonwealth waters off Western Australia, Victoria and the Ashmore and Cartier islands. In June 2018, the Queensland Government announced the release of 11 areas for petroleum exploration acreage in onshore Queensland, with tenders closing in February/March 2019; a further 11 areas will be released in early 2019. The acreage is a mix of coal seam gas and conventional oil and gas. Victoria released five areas in the offshore Otway Basin within State waters. In the Northern Territory, the moratorium on fracking was lifted in April, clearing the way for exploration to recommence in the 2019 dry season. With the increase in exploration has come an increase in success, with total reserves discovered within Australia during 2018 at just under 400 million barrels of oil equivalent, representing a significant increase from 2017. In 2018, onshore drilling resulted in 18 new discoveries, while offshore, two new discoveries were made. The most notable exploration success of 2018 was Dorado-1 drilled in March by Quadrant and Carnarvon Petroleum in the underexplored Bedout Sub-basin. Dorado is the largest oil discovery in Australia of 100 million barrels, or over, since 1996 and has the potential to reinvigorate exploration in the region.

LEGAL CONTROLS OVER PETROLEUM EXPLORATION AND DEVELOPMENT OFFSHORE WESTERN AUSTRALIA

1979 ◽  
Vol 19 (1) ◽  
pp. 219
Author(s):  
A.G. Thompson
Keyword(s):  
Western Australia ◽  
The State ◽  
Petroleum Exploration ◽  
State Control ◽  
Mixed Regime ◽  
Environmental Controls ◽  
Petroleum Resources ◽  
Legal Controls ◽  
Exploration And Development ◽  
Offshore Petroleum

Increased petroleum exploration and development activities offshore Western Australia will continue to attract the focus of many companies, contractors and investors who will find that their exploration and development activities and operating practices are controlled by a mixed regime of State and Federal legislation. This mixed regime has its sources in international and constitutional law.Working within these controls is not assisted by the complexity of State and Commonwealth jurisdictional problems in respect to offshore areas. Certain governmental arrangements between the State and the Commonwealth, however, facilitate continued exploration activity offshore, whilst some of the legal issues remain to be resolved. Some guiding principles as to what laws apply offshore and to what extent, are indicated.The consultative arrangements between the State and the Commonwealth under the Offshore Petroleum Code allow for Commonwealth ownership and State control of offshore petroleum resources to co-exist. These are commented upon and the Petroleum (Submerged Lands) Acts are analysed with respect to the nature and security of petroleum titles; the setting, performance and variation of work and monetary obligations; the range of administrative discretion in relation thereto; the transferability of petroleum interests and the rate and calculation of royalties.Directions regulating offshore operations generally and covering exploration, reporting, platforms, pipelines, production and work practices are explained. Some of the environmental controls are also mentioned.

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.

Australian States and Northern Territory acreage update at APPEA 2010

2010 ◽  
Vol 50 (1) ◽  
pp. 35
Author(s):  
Peter Green
Keyword(s):  
Oil And Gas ◽  
Petroleum Industry ◽  
Northern Territory ◽  
Petroleum Exploration ◽  
Tight Gas ◽  
Extensive Experience ◽  
Green Is ◽  
Australian State ◽  
Petroleum Resources ◽  
Exploration And Production

Peter Green is the Geoscience Manager: Energy Geoscience in the Geological Survey Queensland and has extensive experience in basin studies, geoscience and the development of petroleum regulation in Queensland. This paper provides a summary of the land releases for petroleum exploration for onshore areas and coastal waters of Australia for 2010. The summaries include upstream petroleum acreage opportunities for the states and the Northern Territory, and geothermal energy exploration opportunities. The rise in interest in export liquefied natural gas projects has ensured petroleum exploration and production has remained strong. Interest in acquiring petroleum acreage to explore for both conventional and non-conventional plays remains high. Australian state and the Northern Territory governments continue to provide access to land and promotional opportunities for companies to undertake exploration and development of our petroleum resources. Acreage on offer provides a mix of exploration opportunities from conventional oil and gas through to the unconventional plays such as shale gas and tight gas. This change in acreage on offer reflects the changing nature of the onshore petroleum industry in Australia.

The Contract Regime for Unitisation and the Impact of Production Sharing Contracts on Joint Development in Nigeria

2021 ◽  
Author(s):  
Mendos James
Keyword(s):  
Best Practices ◽  
Oil And Gas ◽  
Operating Cost ◽  
Regulatory Regime ◽  
Joint Development ◽  
Production Sharing ◽  
Effective Manner ◽  
Petroleum Resources ◽  
The Impact ◽  
Petroleum Drilling

Abstract Unitisation has evolved globally as the best mechanism for the joint development of hydrocarbon bearing reservoirs that straddle two or more concessions or licenses. The concept of unitisation is underpinned by the need to avoid competitive exploitation of hydrocarbon resources, maximise its economic recovery, eliminate proliferation of production facilities and reduce development and operating cost.1 The practice of unitisation in the Nigerian oil and gas landscape has gained traction over the years with several straddle fields identified as candidates for unitisation and more than ten (10) agreements for joint development (both Pre Unitisation Agreements and Unitisation and Unit Operating Agreements) executed in the industry. This has occurred under a regulatory regime for unitisation that has evolved from the concise provisions of Section 48 of the Petroleum (Drilling and Production) Regulation 1969 as amended, to the robust Guidelines for Unitisation issued by the Department of Petroleum Resources (DPR) in 2008 (revised in 2019) (Guidelines) in response to the complexities of joint development encountered by parties. While the Guidelines is an excellent attempt at providing a process for unitisation, it does not provide sufficient guidance on the contract regime for unitisation as the bedrock for joint development. A critical look at the contracts governing joint development in the light of global best practices is important to ensure that it meets in an effective manner the objectives of unitisation. A review of the contract regime for unitisation would be incomplete without recognising the impact that underlying contracts governing separate concessions have on unitisation. To this end, the posture of Production Sharing Contracts (PSCs) on gas development in a unit is worth reviewing in the light of the benefits of commercialising gas to the State and the Contractor. This paper reviews the contract regime for unitisation in Nigeria as regulated by the Guidelines and the impact that underlying contracts (particularly PSCs) have on unitisation. The paper will proffer recommendations for inclusion in the Guidelines with a view to improving the process of joint development of shared reservoirs in Nigeria.

scholarly journals Environmental Protection and Oil and Gas Production in the Nova Scotia Offshore: A Guidelines Approach to Operational Discharges

1969 ◽  
pp. 347
Author(s):  
Mikis Manolis
Keyword(s):  
Nova Scotia ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Statutory Authority ◽  
Petroleum Resources ◽  
Offshore Petroleum

This article examines and describes the regulatory framework governing the production of oil and gas in the Nova Scotia offshore. Specific attention is given to the ecological dangers posed by operational discharges into the marine environment by the oil and gas industry. The regulation of operational discharges under the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act and the role of guidelines in this regard is discussed. It is argued that the attempted use of guidelines by the Canada-Nova Scotia Offshore Petroleum Board to impose binding requirements on operators is beyond its statutory authority. The administrative problems associated with these "mandatory" guidelines are also discussed.

Capital Accumulation, Environmental Pollution, and Public Health Challenges in the Nigerian Petroleum Industry: Lessons on Market Criminology

2020 ◽  
Vol 19 (1-2) ◽  
pp. 181-200
Author(s):  
Ifeanyi Ezeonu
Keyword(s):  
Public Health ◽  
Capital Accumulation ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Gas Production ◽  
Petroleum Exploration ◽  
Oil And Gas Production ◽  
Petroleum Resources ◽  
Public Health Challenges ◽  
Expansive Process

Abstract Petroleum exploration activities started in Nigeria’s Niger Delta in the early twentieth century as part of the expansive process of primitive accumulation instituted by the British colonial administration to advance its economic interest. Since petroleum resources were discovered in commercial quantities in the region in 1956, transnational extraction corporations (including Shell, Chevron, and ExxonMobil) in collaboration with the emergent domestic compradors have plundered the resource wealth. While decades of crude oil and gas production in the region have enormously enriched the captors of the petroleum industry, the host communities have suffered debilitating economic and health consequences. This article discusses the public health challenges resulting from this predatory political economy, along the lines of a bourgeoning body of literature that conceptualizes preventable market-driven harms as criminal.

Shining the spotlight on the petroleum resource rent tax

2018 ◽  
Vol 58 (2) ◽  
pp. 643
Author(s):  
Kenneth Wee
Keyword(s):  
Oil And Gas ◽  
Petroleum Exploration ◽  
Consultation Process ◽  
Resource Rent ◽  
Petroleum Resource ◽  
Petroleum Resources ◽  
Recent Developments ◽  
Pros And Cons ◽  
Policy Direction ◽  
Resource Taxation

The petroleum resource rent tax (PRRT), a 40% profits-based upstream tax that applies to Australian oil and gas projects, has come under significant scrutiny as to its effectiveness in providing an appropriate return to the community for the exploitation of Australia’s petroleum resources. The April 2017 independent Callaghan review into the design and operation of the PRRT found that it remained the preferred way of achieving a fair return to the community from petroleum exploration and recovery, without discouraging investment into the sector. However, the Callaghan review recommended possible changes to the regime to improve its sustainability and compatibility with the current state of the industry, while ensuring fiscal stability for existing investments. In response to the findings and recommendations of the Callaghan review, Australian Treasury embarked on a consultation process to investigate potential reform options to the PRRT. Government has yet to announce its decision on the way forward. What the future holds for the PRRT and the consequential impact on existing and new or proposed projects remain to be seen pending the Government’s chosen policy direction. This paper covers the following: • a survey of the economic rent theory underpinning the framework of the PRRT regime, including its pros and cons compared with other forms of resource taxation • a review of key recent developments in the administration and interpretation of the PRRT law, and • how the PRRT regime is anticipated to change and the associated repercussions on the after-tax economics and practical compliance for existing and future projects.

2018 offshore petroleum exploration acreage release

2018 ◽  
Vol 58 (2) ◽  
pp. 465
Author(s):  
Lisa Schofield
Keyword(s):  
Oil And Gas ◽  
South Australia ◽  
Regulatory System ◽  
Petroleum Exploration ◽  
Central Component ◽  
Multiple Use ◽  
Consultation Process ◽  
Responsible Investment ◽  
Petroleum Potential ◽  
Offshore Petroleum

The Australian Government’s 2018 offshore petroleum exploration acreage release was announced by the Commonwealth Minister for Resources and Northern Australia, Senator the Hon Matthew Canavan at the 2018 APPEA conference. This paper provides insights into the processes that the Australian Government has undertaken to select the final release areas and goes into detail on the ongoing petroleum related activities of the Department of Industry, Innovation and Science (the Department). The annual acreage release is a central component of ensuring ongoing, sustainable and responsible investment in Australia’s offshore petroleum sector. The annual acreage release remains the primary mechanism for securing investment in offshore oil and gas exploration in areas of known petroleum potential and new geological frontiers. Continued exploration for oil and gas in Commonwealth waters is a central component of ensuring Australia’s future energy security. Australia’s well established and independent environmental regulator, NOPSEMA (the National Offshore Petroleum Safety and Environmental Management Authority), ensures all petroleum activities in Commonwealth waters are performed safely and in an environmentally responsible manner. Combined with NOPTA’s (National Offshore Petroleum Titles Administrator) leading practice titles administration, Australia remains an attractive investment destination while offering industry leading environmental protections and ensuring safe working conditions industry-wide. Australia offers investors access to data, secure tenure, a stable economic environment and a well-established transparent regulatory system for offshore petroleum activities. A key driver for sustainable activity in Australia is the acceptance of multiple use access to Australia’s marine resources. Recognising this, the department consults with a range of stakeholders on the areas it proposes to release for petroleum exploration. This consultation process provides an opportunity for all interested parties to provide comments and feedback on the areas proposed and in particular highlight how interested parties or the areas might be impacted by exploration activities. The 21 areas in the 2018 offshore petroleum exploration acreage release are located in the offshore areas of Western Australia, South Australia, Victoria and the Ashmore-Cartier Islands. These areas will enable the next wave of investment in the Australian resources sector, and the prospect of new oil, gas and condensate production.

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