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Successful applicants for exploration acreage in Cooper and Otway Basins announced

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Oilfield Technology,

The South Australia State Government has announced the successful bids for five new exploration licences (PELs) with a guaranteed work programme valued at AUS$58.85 million over the next five years.

The successful applicants for new PELs in the Cooper Basin are Leigh Creek Energy, Cordillo Energy, Gidgee Energy and Vintage Energy.

“South Australia aims to rebound quickly from the pandemic-led slowdown and petroleum exploration will be a significant contributor to a sharp recovery,” said Minister for Energy and Mining, Dan van Holst Pellekaan.

“The Otway Basin licence is being offered to joint venture partners Beach Energy and Cooper Energy through subsidiary companies. Both companies are experienced explorers and producers in the Otway and their continued interest in the region is a positive result for the state.

“The next step for the Cooper Basin applicants will be to engage with native title parties and the South Australian government to develop access agreements.

“All licence holders are required to seek further regulatory approval before conducting any exploratory activity on their blocks in an assessment process that provides opportunity for public consultation.

“Approval to commence exploration will only be granted once the regulator is satisfied that all risks to the environment, other land users and the precious water resources are manageable.

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