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SA awards five new exploration licences

Five applicants have been awarded Petroleum Exploration Licences (PELs) by the South Australian Government.

With a guaranteed work program valued at $58.85 million over the next five years, the SA Department for Energy and Mining announced this week that Leigh Creek Energy (LCK), Cordillo Energy, Gidgee Energy and Vintage Energy have won PELs in the Cooper Basin.

A fifth licence in the Otway Basin has been offered to a joint venture (JV) of Beach Energy and Cooper Energy, with both companies already having experience in the basin.

SA Minister for Energy and Mining Dan van Holst Pellekaan said the high level of interest around the Cooper Basin acreage confirmed the regions reputation as an excellent exploration investment destination.

“All of the blocks released last year offer a diversity of play types and give the new licence operators the opportunity to build a strong exploration portfolio,” he said.

“The next step for the Cooper Basin applicants will be to engage with native title parties and the SA Government to develop access agreements.

“All licence holders are required to seek further regulatory approval before conducting any exploratory activity on their blocks in an assessment process that provides opportunity for public consultation.

“Approval to commence exploration will only be granted once the regulator is satisfied that all risks to the environment, other land users and the precious water resources are manageable.”

For more information visit the SA Department of Energy and Mining website.

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