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Australia offshore 2016 licensing round launch

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Report summary

On 11 August, the Australian government announced it was offering 28 licences offshore Western Australia and the Territory of Ashmore and Cartier Islands. The blocks vary between frontier areas and relinquished licences surrounded by large gas fields. The round presents an opportunity for existing players to acquire acreage with low spending commitments. Additionally, new players may look to acquire acreage in the prime North Carnarvon Basin, or take a longer term view and look at acreage in the more isolated Browse, Canning and Bonaparte basins.However, although the round is varied, we believe that the current environment will lead to low bid commitments – continuing a trend observed over the last five years.

What's included

This report contains

  • Document

    Licensing round 2016.xls

    XLS 290.00 KB

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    Australia offshore 2016 licensing round launch

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    ZIP 766.14 KB

Table of contents

  • Varied offering, but tough market conditions could draw low bids
    • Summary of offered acreage – Round 1
    • Summary of offered acreage – Round 2
    • Summary of offered acreage – Cash bids
    • Timetable
    • Biddable parameters
    • Licence prospectivity – summary
    • Fiscal competitiveness of offshore Australia – Global deepwater regimes

Tables and charts

This report includes 12 images and tables including:

Images

  • Criteria for success
  • Australia offshore 2016 licensing round launch: Image 2
  • Australia offshore 2016 licensing round launch: Image 3
  • Australia offshore 2016 licensing round launch: Image 4
  • Offshore exploration licence awards
  • Commitment wells per block

Tables

  • Australia offshore 2016 licensing round launch: Table 1
  • Australia offshore 2016 licensing round launch: Table 2
  • Australia offshore 2016 licensing round launch: Table 3
  • Australia offshore 2016 licensing round launch: Table 4
  • Australia offshore 2016 licensing round launch: Table 5
  • Pyrenees Area – example economics of an Exmouth sub-basin FPSO oil development

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