Victoria opens first petroleum exploration tenders since 2018

The Australian authorities of Victoria has launched its archetypal petroleum exploration tenders since 2018 successful effect to looming state proviso risks caused by declining accumulation successful existing fields.

The tender applications person been invited for 2 areas: Area VIC/25-1 – offshore the Otway Basin (Victorian waters) and Area VIC/25-2 – onshore the Gippsland Basin.

Tender applications tin beryllium submitted until 11 February 2026.

According to the petroleum industry, these areas person “the astir involvement for exploration”.

Bloomberg reported that the caller exploration projects are intended to proviso the home marketplace and are not aimed astatine supporting exports.

This determination is portion of a broader strategy to code expanding energy request successful New South Wales (NSW), Victoria and South Australia, according to the report.

The Australian Energy Market Operator forecast earlier this twelvemonth that request for state connected the eastbound seashore is expected to outpace proviso from 2028.

This projection has led to calls to compel liquefied earthy state exporters to redirect non-contracted supplies to the home marketplace to code the shortfall.

Environmental organisations opposed the government’s determination connected caller state exploration tenders owed to the imaginable interaction connected the climate.

Environment Victoria stated that the projects tin person “grave biology impacts from seismic blasting, marine ecosystem harm and groundwater drawdown”.

Environment Victoria elder clime and vigor advisor Kat Lucas-Healey said: “The authorities has wholly ignored assemblage concerns astir seismic blasting and risks to Gippsland’s groundwater successful opening up these tenders. These are serious, lasting impacts and for what? For the past dregs of Victorian gas.

“Gas usage successful Victorian homes and businesses is plummeting arsenic radical power to overmuch cheaper and much businesslike electrical alternatives.

“Opening up caller exploration of a rapidly diminishing assets lone cultivates uncertainty, which costs households and businesses.”

In June, the Australian Financial Review reported that indigenous landowners mounted ineligible challenges against Santos’ A$3.6bn ($2.39bn) Narrabri state task successful NSW.

In September, the Australian Government announced a 2035 people to trim emissions by 62–70% beneath 2005 levels.

Australian Energy Producers has welcomed the Victorian Government’s determination to invitation tender applications for petroleum exploration permits successful the Otway and Gippsland basins.

Australian Energy Producers Victoria manager Peter Kos said: “Today’s announcement is an indispensable archetypal measurement successful unlocking caller home earthy state resources and demonstrates that the authorities is taking steps to code aboriginal vigor challenges.”