The Australian Government has opened up 80,000 square kilometres (30,000 square miles) of coastal waters for oil and gas exploration amid a shortage of supplies on the nation’s two key commodities.
Industry stakeholders will be expected to bid for exploration rights in a total of 21 areas off the coasts of Western Australia, Victoria, and Tasmania—part of the 2021 Offshore Petroleum Exploration Acreage Release unveiled this past week.
