South Australia Offers Two Cooper Basin Blocks for Bidding
South Australia has opened the bidding process for companies wanting to explore for oil and gas in two new onshore blocks in Cooper Basin.
The blocks are offered on the basis of work program bidding. Bids close on Thursday 29 May 2014 and the winning bidders are expected to be announced by the end of July 2014.
“These two new blocks being offered provided an opportunity for companies wanting to explore within the Cooper Basin and build on our existing knowledge of these acreages. Opening of bids comes at a time when spending on exploration for oil and gas in South Australia is at a record high. Spending on oil and gas exploration in SA reached a record $386.3 million in 2012/13 – up from $174.3 million in the previous year,” Minister for Mineral Resources and Energy Tom Koutsantonis said.
The blocks are:
- CO2013-A, which covers 627 sq kms in the southern Cooper Basin. One well (Tawriffic East 1) has been drilled and 876 line kilometres of 2D seismic data have been acquired within the block.
- CO2013-B, covers 3,443 sq kms in the southern Cooper Basin. No wells have been drilled and 315 line kilometres of 2D seismic data have been acquired within the block.
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