Companies are invited to bid for the opportunity to invest in oil and gas exploration in Australian waters.

The final round of the 2018 Offshore Petroleum Exploration Acreage Release will close on 21 March 2019.

It comes after oil and gas companies paid a total of $11.1 million for cash bid permits to secure the right to explore three areas offshore Western Australia and Victoria for the next six years.

Chevron Australia New Ventures Pty Ltd, Lattice Energy Limited, and Woodside Energy Julimar Pty Ltd and KUFPEC Australia (Julimar) Pty Ltd (jointly) have been awarded the new permits.

The cash bid auction was held on 7 February as part of the 2018 Offshore Petroleum Exploration Acreage Release. Four offshore areas received bids, with three of these receiving successful bids.

The 2018 acreage release also offered 16 areas for work program bidding, which requires companies to bid and commit to a program of exploration activities that would significantly improve the geological knowledge of an area.

From 2019, acreage releases will focus exclusively on work program bidding.

The final round of the 2018 Offshore Petroleum Exploration Acreage Release closes in less than a month. For more information visit www.industry.gov.au

Have your say: 2019 offshore acreage release

The Department of Industry, Innovation and Science is seeking feedback on areas nominated by industry for inclusion in the 2019 Offshore Petroleum Exploration Acreage Release.

The consultation process offers an opportunity for all interested parties to provide comments and feedback on the nominated areas, and highlight how stakeholders might be affected by exploration activities.

Consultation responses will also inform potential explorers of issues or concerns, which can then be taken into account when planning future exploration activities.

The survey is open until 31 March 2019. For more information and to provide feedback, click here.