EXPLORATION

UPDATE: New offshore blocks up for grabs

THE Australian government's 2010 offshore acreage release of 31 exploration blocks could lead to the discovery of new oil and gas fields which will be critical if Australia is to overcome a growing trade imbalance.

UPDATE: New offshore blocks up for grabs

Australian Petroleum Production & Exploration Association chief executive Belinda Robinson said Australia's oil production peaked 10 years ago. "From meeting nearly 100 per cent of Australia's needs...

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