Highly prospective areas in the southern Georgina Basin released

Onshore petroleum exploration in the Northern Territory will grab the spotlight at the nation’s biggest oil and gas conference when a new acreage release is announced.

ONSHORE petroleum exploration in the Northern Territory will grab the spotlight at the nation’s biggest oil and gas conference when NT Deputy Chief Minister Nicole Manison announces a new acreage release

Ms Manison, who is the Mining and Industry Minister, will invite exploration companies to put in their applications for an exploration permit over two highly prospective areas in the southern Georgina Basin, on the Northern Territory/Queensland border.

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The announcement is being made to industry representatives and major companies at the Australian Petroleum Production and Exploration Association (APPEA) Oil and Gas Conference.

Ms Manison is heading up a government delegation at the high powered conference to discuss the acreage release and other investment opportunities, with interested companies. She said the area being released covered 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 30,780sq km or 392 full and part blocks.

“Our message is clear, if you are looking for the next resource development, come to the Territory,” Ms Manison said. “Interested companies can now lodge a competitive bid process with the Territory government.

“In April, we announced $9.5m for more mineral exploration to drive more mining development and create more jobs across the Territory, with the funding to be ongoing. We are leading Australia’s economic recovery and this is another important step to drive more regional economic development.”

Previous exploration work over the area includes 2D seismic surveys and 13 exploration wells, some of which have undergone hydraulic fracture stimulation and testing.

The competitive bid process is open from June 16 for a period of five months.