Murphy and Mitsui E&P are the current titleholders of the permit in a joint venture agreement.
The permit is offshore the Ashmore-Cartier Islands and covers an area of 334 square kilometres.
Global exploration company Murphy Oil and Gas is looking to surrender its ownership of its exploration permit AC/P57 in the Bonaparte Basin.
Murphy and Mitsui E&P are the current titleholders of the permit in a joint venture agreement.
The permit is offshore the Ashmore-Cartier Islands and covers an area of 334 square kilometres.