Australian Government Offers 27 Areas for Oil, Gas Exploration
The Australian government offered 27 areas for oil and gas exploration off the coasts of the Northern Territory, Western Australia, South Australia, Victoria and Tasmania, Energy Minister Martin Ferguson said.
“There is a high probability of major new petroleum discoveries in Australian waters, with a large number of sedimentary basins still to be explored,” Ferguson said in speech notes for a conference delivered today in Adelaide.
Ferguson also said the petroleum industry plans to set up a system for capping wells to stop potential oil leaks after the 2009 Montara oil spill in the Timor Sea. The government separately is considering strengthening laws to make companies pay for the costs of the pollution they cause, he said.
To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net
To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net
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