THE South Australian Government has opened bidding for four new petroleum exploration licences in the Cooper and Eromanga Basins.
Bids will remain open until the end of May, with more details being offered about the blocks at the Australian Petroleum and Exploration Association (APPEA) conference in Perth.
The CO2013 blocks cover more than 9000 square kilometres, possibly containing conventional and unconventional gas plays.
“The Cooper-Eromanga Basins are the State’s most prospective, and Australia’s largest onshore oil and gas province, supplying major south-eastern domestic and industrial customers with gas for more than 40 years and producing oil since 1982,” Mineral Resources and Energy Minister Tom Koutsantonis said.
More than 3200 delegates and partners are expected to attend the Perth APPEA conference, running from the 6th to the 9th of April at the Perth Convention and Exhibition Centre.
Expenditure on petroleum exploration increased 33 per cent in the 2013 September quarter and in the past financial year petroleum production value exceeded $6 billion.