Results of the 2019 Cooper and Otway Basins Acreage Release

Source: www.gulfoilandgas.com 6/30/2020, Location: Not categorized

The Minister for Energy and Mining, Dan van Holst Pellekaan, has announced the details of successful bids in the 2019 petroleum exploration acreage release in the Cooper and Otway Basins.

At the close of bidding on 29 November 2019, 11 bids were received from nine companies for the eight blocks offered, including two joint ventures comprising two companies each. Bids were received for all five Cooper Basin Blocks, and one of the three Otway Basin Blocks - OT2019-B. No bids were received for the other two Otway Basin blocks.

Successful Cooper and Otway basin bidders were selected on the basis of the total five-year work program bid together with the adequacy of financial resources and technical expertise to satisfactorily undertake the proposed work program.


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