The Australian state of Victoria has launched its first petroleum exploration tenders since 2018 in response to looming gas supply risks caused by declining production in existing fields. The tender applications have been invited for two areas: Area VIC/25-1 – offshore the Otway Basin (Victorian waters) and Area VIC/25-2 – onshore the Gippsland Basin. Tender applications can be submitted until 11 February 2026. According to the petroleum industry, these areas have “the most interest for exploration”. Bl ...