The South Australian state Labor government has revealed that exploration permits for the Great Australian Bight have been awarded to a number of energy companies.
South Australia’s Labor government Energy Minister Tom Koutsantonis said the exploration work by Santos, Chevron, and Murphy Australia Oil could be worth almost $600 million.
“Not only is the Cooper Basin attracting attention but the Bight basin in Commonwealth waters off the South Australian coast is also being acknowledged as a target for exploration,” he told ABC News today.
“The delta that is off the Great Australian Bight is one of the most-prospective unexplored basins anywhere in the world. It has the potential for vast reserves of oil and gas.”
Permits have been granted to joint venturers Murphy Australia and Santos Offshore and to Chevron Australia New Ventures for two exploration areas.
Mr Koutsantonis said there had been advances in exploration techniques.
“Previous drilling in the region in the early 1990s has encouraged explorers to return to the Bight basin to seek out the potential for large oil and gas accumulations,” he said.
ABC News reports the permits extend from waters 150 metres deep to those of up to 3700 metres in the eastern basin.
BP Exploration also has permits to explore in the central part of the Bight basin and energy company Statoil, which has Norwegian government involvement, signed an agreement with BP for a 30 per cent equity share in four offshore exploration licences.
Santos executive Bill Ovenden said his company was pleased to be able to explore in the Ceduna sub-basin, about 200 kilometres off the coast.
“While there’s been very little exploration in this region, we would rate the Ceduna (sub-basin) as one of the last true unexplored deltas in the world,” he said.
The SA conservative Liberal-National opposition welcomed the latest exploration move.
Energy spokesman Martin Hamilton-Smith called for a co-ordinated effort from government and business to support resources potential in the state.
“The positive story emerging in the energy resource sector in the Great Australian Bight and the state’s north-west offers a positive opportunity for the South Australian economy,” he said.
