South Australia opens bidding for PELs in Cooper and Otway Basins

The South Australian Government has opened bidding for five new petroleum exploration licences (PELs) in the Cooper Basin and three new PELs in the Otway Basin.

The five acreage blocks (CO2019-A to E) covers 13,582.3km², comprising relinquishments from PELs and petroleum retention licences (PRLs).

A total of 11 petroleum wells have been drilled within these blocks. More than 6,078 line kilometres of 2D and 407km² of 3D seismic data have been acquired within the five blocks.

Following the acreage relinquishments, three new PELs (Blocks OT2019-A to C) in the Otway Basin are also being offered for work programme bidding.

This release covers 6,950.8km² and provides a diversity of traditional early and late cretaceous oil and gas plays.

This bidding comes at a time when the state is witnessing a strong demand for gas.

The Cooper Basin contains more than 150 gasfields and 90 oilfields that are currently in production. The gasfields contain approximately 700 producing gas wells while the oil fields contain more than 360 producing oil wells.

South Australia Minister for Energy and Mining Dan van Holst Pellekaan said: “Companies operating in the Cooper Basin have sustained world-class exploration success rates since the frontier was opened to new explorers in 1998, confirming the basin’s reputation as an excellent exploration investment destination.

“These exploration success rates have also helped to drive a significant increase in South Australian oil production through exciting new play trends such as the Cooper Basin’s Western Flank.

“Winning Cooper and Otway basin bidders will be selected on the basis of the total five-year work programme bid.”

The bid is expected to close on 29 November.