Australia's 2020 Offshore Acreage Release

With the 2020 Offshore Acreage Release, Browse Energy will be pleased to provide support in following areas and deliver studies in a timely manner:

  • Seismic Interpretation, Prospects /Leads Identification and Mapping

  • Play evaluation

  • Wells e-Logs correlation, Reservoir and seal analysis

  • Prospect/ G&G Risking

  • Dry Hole analysis

  • Reserves Estimation

  • Project Economics


Bonaparte Basin

New areas cover 3 established hydrocarbon provinces:

  • Petrel-Sub basin

  • Troubadour Terrace

  • Vulcan Sub-basin

in addition, Malita Graben areas offer untapped potential

Gas produced: 0.35 Tcf

Gas Remaining: 27.96 Tcf (2P+2C)

Oil produced: 449 MMbbl

Oil remaining: 90 MMbbl (2P+2C)

Condensate remaining: 437 MMbbl

Reference: Geoscience Australia


Browse Basin

Gas and condensate production commenced in 2018 (INPEX operated Ichthys field), followed by Shell-operated Prelude FLNGin 2019.


Discussion regarding the development of additional resources continues.


Eight areas on offer in 2020:

  • Caswell Sub-basin

  • Yampi shelf

  • Barcoo Sub-basin

Gas produced: 0.07 Tcf

Gas Remaining: 39.75 Tcf (2P+2C)

Oil produced: 3MMbbl

Oil remaining: 37MMbbl (2P+2C)

Condensate remaining: 1173MMbbl

LPG remaining: 60 MMbbl

Reference: Geoscience Australia


Northern-Carnarvon Basin

Australia's premier hydrocarbon province since the mid-1990s, attractive to companies of all sizes.

LNG export hub, expanding infrastructure.

inboard areas offer access to multiple gas and oil-prone petroleum systems.

outboard areas offer access to world-class gas play (Upper Triassic Mungaroo deltaic system)

untapped lower-mid Triassic targets, including "deep Mungaroo" (BP's proposed Ironbark-1 in WA-359-P)

Gas produced: 30.64 Tcf

Gas Remaining: 94.89 Tcf (2P+2C)

Oil produced: 3207 MMbbl

Oil remaining: 1039 MMbbl (2P+2C)

Condensate remaining: 950 MMbbl

LPG remaining: 1 MMbbl

Reference: Geoscience Australia


Otway Basin

Gas producing province since late 1990s.

rapid suit of new discoveries since Geograph/Thyfacine in 2001

Waarre Fm (late Cretaceous, Turonian) in shipwreck through is main play.

additional discoveries (onshore) are related to early Cretaceous: Pretty Hill formation" eg Hazelgrove in Penola Trough, South Australia


Gas produced: 1.53 Tcf

Gas Remaining: 1.52 Tcf (2P+2C)

Oil produced: 28 MMbbl

Oil remaining: 7 MMbbl (2P+2C)

Condensate remaining: 22 MMbbl

LPG remaining: 25 MMbbl

Reference: Geoscience Australia


Gippsland Basin

World-class oil gas province with continued oil and gas production since the 1970s.

Wide-ranging untested exploration targets, especially in the east and along the basin flanks.

New permit awards in recent years indicate that the basin has maintained its attractiveness.

Sculpin-1 (ExxonMobil) newest exploration well drilled in Nov/Dec 2019 (2300 m water depth)

Gas produced: 10.13 Tcf

Gas Remaining: 5.06 Tcf (2P+2C)

Oil produced: 4940 MMbbl

Oil remaining: 171 MMbbl (2P+2C)

Condensate remaining: 130 MMbbl

LPG remaining: 210 MMbbl

Reference: Geoscience Australia