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Northbridge Industrial Services Plc

Industry welcomes new SA oil and gas acreage

Australia’s oil and gas sector has welcomed the South Australian Government announcement of successful bids for five new petroleum exploration licenses in the Otway and Cooper Basins – two basins with a long history of supplying the state’s energy needs.

Six companies, including APPEA members Beach Energy, Cooper Energy and Vintage Energy have been allocated exploration acreage covering more than 15,000 sq kms in SA’s north east and south east regions.

SA Resources Minister Dan van Holst Pelelkaan said the strong industry response to the acreage release highlighted the agility and resilience of Australian exploration companies.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.