The Territory Government is creating investment opportunities for the resources sector with the announcement of a new acreage release for onshore petroleum exploration.
Applications and submissions for an exploration permit are now invited over two areas in the southern Georgina Basin, on the Northern Territory/Queensland border.
Interested companies can now lodge a competitive bid process with the Territory Government.
The public is also invited to make submissions regarding the suitability of the area for petroleum activity.
The announcement is being made to industry representatives and major companies at the Australian Petroleum Production and Exploration Association (APPEA) Oil and Gas Conference held in Perth this week.
A Territory Government delegation including the Minister for Mining and Industry, The Hon. Nicole Manison are at the conference to discuss the acreage release and other investment opportunities, with interested businesses attending the conference.
The area being released covers some of the most prospective areas of the southern part of the Georgina Basin, which is known for organic-rich shales and widespread documented oil and gas.
The total area is 30,780 square kilometres or 392 full and part blocks.
Previous exploration work over the area includes 2D seismic surveys and thirteen exploration wells, some of which have undergone hydraulic fracture stimulation and testing.
The competitive bid process is open from 16 June 2021 for a period of 5 months.
The Minister for Mining and Industry will consider the applications and submissions and determine what areas, if any, will be made available for the granting of an exploration permit application.
More information about the acreage release, including maps of the area, are available at https://industry.nt.gov.au/industries/mining-and-energy/petroleum-acreage-releases
Source: NT Government