Mines and Petroleum Minister Bill Johnston has just announced that his department is planning to open eight onshore areas for petroleum exploration in Western Australia. This move is part of a broader effort to bolster the state's mining and resources sector, which has been crucial to Western Australia's economy for decades. The areas are spread across the state, with some located in the Pilbara region in the north and others in the South West region. Johnston is urging interested parties in the industry to begin preparing their bids, with the official tender process set to begin in the coming weeks.
1. Mines and Petroleum Minister Bill Johnston announces plans to open eight onshore areas for petroleum exploration in Western Australia.
2. The move is part of an effort to bolster the state's mining and resources sector, which has been crucial to Western Australia's economy for decades.
3. The areas are spread across the state, including the Pilbara region in the north and the South West region.
4. Interested parties in the industry are encouraged to begin preparing their bids, with the official tender process set to begin in the coming weeks.
5. The aim of the initiative is to attract investment, stimulate the economy, and encourage the discovery of new petroleum resources, providing promising opportunities for local and international companies to contribute to Western Australia's petroleum industry growth.
The state of Western Australia is estimated to have around 60 billion barrels of potential petroleum resources yet to be discovered.
These areas are located in the Mid West, Southern and Northern Perth Basin, and West Kimberley regions. The aim of this initiative is to attract investment and stimulate the economy, while also encouraging the discovery of new petroleum resources. The government is committed to providing a transparent and efficient bidding process, ensuring equal opportunities for all interested companies to participate. With the potential for significant resource discoveries, this presents a promising opportunity for both local and international companies to contribute to the growth of Western Australia's petroleum industry.