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NT offshore petroleum exploration permits awarded.



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Media Release

 

Statement by

Senator Nick Minchin

Minister for Industry, Science and Resources 

NT Offshore Petroleum Exploration Permits Awarded

 

20 January 1999

 

99/007

 

The Federal Minister for Industry, Science and Resources, Senator Nick Minchin, today announced the successful bidders for three new petroleum exploration permits in the Northern Territory adjacent area. The announcement was made jointly with the Northern Territory Minister for Resource Development, Eric Poole. 

 

The permits have been awarded to the following groups of companies : 

 

NT98-1 

Woodside Energy Limited* 

Shell Development (Australia) Proprietary Limited 

BHP Petroleum (North West Shelf) Pty Ltd 

 

NT98-2 

Roma Petroleum Company Pty Ltd* 

Guinness Peat plc 

 

NT98-6 

Woodside Energy Limited* 

Shell Development (Australia) Proprietary Limited 

 

* Denotes operator 

 

Areas NT98-1 and NT98-2 are in the Timor Sea in the vicinity of the undeveloped gas discoveries of Sunrise, Sunset, Troubadour and Loxton Shoals. Area NT98-6 is in the Bonaparte Basin, in the vicinity of the undeveloped gas discoveries of Tern and Petrel. 

 

No applications were received for areas NT98-3, NT98-4 and NT98-5, all of which are in the Bonaparte Basin.  

 

BACKGROUND NOTES 

 

Applications for the permits were invited in March 1998 under the Petroleum (Submerged Lands) Act 1967 and closed on 15 October 1998. 

 

Under the work program bidding system, applicants are required to nominate a guaranteed minimum 'dry hole' exploration program for each of the first three years of the permit term and a 'secondary' program for the remaining three years. Each component of the program must be completed in the designated year or earlier. Permits are awarded for an initial term of six years. 

 

Petroleum exploration and development activity in these areas will benefit from the application of the profits-related petroleum resource rent tax. Royalty and crude oil excise will not apply. 

 

NT98-1 is a very small area adjacent to the Retention Lease over the Sunrise/Troubadour/Loxton Shoals gas discoveries. The area has been awarded to a consortium consisting of Woodside Energy Limited, Shell Development (Australia) Proprietary Limited and BHP Petroleum (North West Shelf) Pty Ltd. The consortium has proposed a guaranteed work program for the first three years of 48 square kilometres of new 3D seismic acquisition and studies for an estimated expenditure of $1.3 million. The consortium has also proposed a secondary program of studies for an estimated expenditure of $0.6 million. There were no other bids for this area. 

 

Area NT98-2 has been awarded to a consortium consisting of Roma Petroleum Company Pty Ltd and Guinness Peat plc. The consortium has proposed a guaranteed work program for the first three years of re-interpretation of all data in the area and preparation of seismic time and depth maps, 860 line kilometres of new 2D seismic acquisition and the drilling of 4 exploration wells for an estimated expenditure of $29.3 million. The consortium has also proposed a secondary program of geological and geophysical review, 400 line kilometres of new 2D seismic acquisition and 2 exploration wells for an estimated expenditure of $16.6 million. There was one other bid for this area. 

 

Area NT98-6 has been awarded to a consortium consisting of Woodside Energy Ltd and Shell Development (Australia) Proprietary Limited. The consortium has proposed a guaranteed work program for the first three years of 2050 line kilometres of new 2D seismic acquisition, 210 square kilometres of new 3D seismic acquisition and studies for an estimated expenditure of $5.8 million. They have also proposed a secondary program of one exploration well and studies for an estimated expenditure of $11.3 million. There was one other bid for this area. 

 

The location of permits is shown in the attached map.  

 

For more information contact: 

Geoff Furnell, ISR, 02 6272 4695 

Eric Nunn, NT Dept of Mines and Energy, 08 8999 5460 

 

CMR041

 

Media Contact:

 

Kate McShane 

Senator Minchin's Office 

0408 575 510 

 

Ali Morrow 

Mr Poole's Office 

08 8999 7034

 

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