The release comprises 21 areas across the Bonaparte, Browse, Carnarvon, Otway, Sorell and Gippsland basins off Western Australia, Victoria, Tasmania and the Ashmore and Cartier Islands.
Minister for Resources, Water and Northern Australia said it was “vitally important that Australians have access to reliable and affordable energy”.
“Exploration will continue to play a key role in supporting Australia’s economic growth by encouraging investment in development prospects, as well as unlocking additional supply.
“This year’s release provides opportunities in established oil and gas provinces with existing infrastructure as well as under-explored areas offshore Victoria, also within reach of existing infrastructure,” he said.
“This is consistent with the drive to deliver current projects as well as the potential to increase supply into the east coast market.
“The continued release of areas for exploration is important to providing a steady supply of energy for the future.
“I would welcome and encourage industry bidding on the released areas.”
Bidding for the acreage will close on 3 March 2022.
Click here for more information on the acreage release.