The two-round acreage release is part of the federal government's 2017 Offshore Petroleum Exploration Acreage Release program and is estimated to increase exploration investment in offshore activity by more than A$530 million over the next six years.
"The awarding of seven new permits to a mix of small, medium and large explorers committing to new exploration in Australia demonstrates investor confidence in our offshore oil and gas sector," Canavan said.
Round one of the release program saw Carnarvon Petroleum, Cooper Energy and Inpex awarded new acreage across the Timor Sea, Gippsland Basin and Canning Basin.
Carnarvon Petroleum was awarded the AC/P63 explora...
