Permits for petrol exploration granted

The federal government has allocated seven new permits for petroleum exploration off the coast of Western Australia, Victoria and the Northern Territory.

The government says the new permits will result in $320 million being invested over the next six years.

Announcing the new permits, Resources Minister Ian Macfarlane said this was in addition to the $1 billion which petroleum explorers plan to invest over the next six years from the 12 permits announced in April.

"The annual release of offshore petroleum acreage is a key part of the Australian government's strategy to encourage investment in petroleum exploration," Mr Macfarlane said in a statement.

"Australia continues to receive strong interest from both local and global petroleum explorers, especially in the Browse Basin."

He said this was testament to Australia's record of successful development of major offshore gas projects and its reputation as a reliable supplier of liquefied natural gas to export markets.

"These new permits will help further develop Australia's energy resources and underpin our long-term energy security."

The new permits will be jointly administered by the federal government and the respective state and territory governments.

The seven new permits are:

Two in the Gippsland Basin off Victoria to Great Artesian Oil and Gas Ltd;