The hydrocarbon potential of the 2016 proposed Offshore Acreage Release Areas for petroleum exploration

Abstract

The Australian Government usually releases new offshore exploration acreage once a year. The proposed 2016 Release Areas are located across various offshore hydrocarbon provinces and include mature basins with ongoing oil and gas production as well as exploration frontiers. In support of the annual acreage release, Geoscience Australia provides a variety of geological information with an emphasis on basin evolution, stratigraphic frameworks, and overviews of hydrocarbon prospectivity. Geoscience Australia’s petroleum geological studies are aimed at the evolution of hydrocarbon-bearing basins at a regional scale, and include a review of source rock occurrences, their distribution and geochemical characters. Following the recent oil discovery in the Roebuck Basin, a strong focus of Geoscience Australia’s work is being placed on the Triassic period, and any new findings will directly underpin the release of new exploration acreage. Recent updates to stratigraphic frameworks and new results from geochemical studies are regularly published, and are used by Geoscience Australia for prospectivity assessments. Furthermore, the Australian Government continues to assist offshore exploration activities by providing ready access to a wealth of geological and geophysical data.