The Australian government has announced five new areas available for petroleum exploration as part of an acreage release in the Otway basin.
The 2025 Otway Offshore Petroleum Exploration Acreage Release provides an opportunity for industry to bid for an exploration permit over one or more of these five areas. The release includes three areas in offshore Tasmania and two in offshore Victoria.
The release is part of the federal government’s efforts under the Future Gas Strategy, which states that new sources of gas supply are needed to meet demand during the transition to net zero.
Encouraging exploration in the Otway basin will unlock new petroleum resources and help avoid future domestic gas shortages.
Minister for Resources and Northern Australia Madeleine King said the new release areas have been chosen to protect neighbouring marine parks, with buffer zones to protect marine park boundaries.
All projects will be required to meet strict environmental and emissions standards per usual processes.
“Exploration and new discoveries will play an important role in underpinning our energy needs and support Australian industry and households as we meet our net zero commitments,” Minister King said.
“The release of new acreage supports our Future Gas Strategy and will help ensure Australians continue to have access to gas at affordable prices.”
The public will be given the chance to weigh in on the new areas until February 6, 2026.
Applications for exploration permits will close on June 30, 2026.
