Australia Suggests Oil and Gas Exploration Locations

Bloomberg reported that the Australian government has put forward 27 areas that could be explored for oil and gas. The locations suggested are off the coasts of the Northern Territory, Western and South Australia, and Victoria and Tasmania.

Energy Minister Martin Ferguson commented:

There is a high probability of major new petroleum discoveries in Australian waters, with a large number of sedimentary basins still to be explored.

Click here to read the full Bloomberg report.