The oil and gas industries in Western Australia, Victoria, Northern Territory and the Territory of Ashmore and Cartier Islands have been bolstered by the Australian Government’s 2020 offshore petroleum exploration acreage release.
This release comprises of 42 areas in Commonwealth waters, with 100,000 square kilometres of acreage being made available for exploration across the Bonaparte, Browse, Northern Carnarvon, Otway and Gippsland basins.
Federal Minister for Resources, Water and Northern Australia, Keith Pitt, said the annual acreage release was a key component of the government’s strategy to promote and encourage investment in petroleum exploration for the benefit of the Australian economy.
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.