PETROLEUM companies have shown “good interest” in a sweeping new proposed gas mining tenement being opened up in the South East, according to Energy Minister Tom Koutsantonis.
The final bids for the 2017 Otway onshore acreage release – which will open up unprecedented land for gas mining – close today.
It is understood the new exploration blocks will cover a staggering 50,000ha across the South East, mostly around the Penola district.
While the process is still in its early stage, the government has yet to rule out companies being permitted to use hydraulic fracturing, which is commonly known as fracking.
This exploration area – not part of the world-famous