Australian State Offers First Gas Exploration Permits Since 2018

The Australian state of Victoria is going ahead with its first petroleum exploration tenders in seven years in an attempt to head off looming gas supply risks as production from existing fields declines.

The tenders cover blocks in the Otway and Gippsland basins, with bids due Feb. 11, the Victorian government said in a statement. These areas have the most industry interest for exploration, it said.