The three joint venture partners in the Petrel gas discovery off northern Australia have been awarded a new offshore exploration block in the neighbouring permit.

Block WA-545-P in the Bonaparte basin was released as W19-2 in Australia's 2019 offshore licensing round, and has been awarded to operator Santos and partners Neptune Energy and Beach Energy.

The same trio own the Petrel gas discovery immediately to the north-east.

The joint venture has pledged to spend up to A$17 million in the first five-year period on geophysical and geotechnical work followed by one exploration well valued at about A$27 million in year six, according to the National Offshore Petroleum Titles Authority.

The trio are currently working on the development of the Petrel field, in which Neptune holds a 54% operating stake, Santos has 40.25% and Beach has 5.75%.

Two other undeveloped gas discoveries - Frigate and Tern - sit on the south-west border of WA-545-P; Santos has a 100% interest in Frigate and Tern.

Santos - which has grown dramatically in Australia thanks to its acquisitions of ConocoPhillips' assets and Quadrant Energy - has also been awarded a small exploration block off Western Australia.

Block WA-543-P was released as W19-21 in the 2019 licensing round.

It is an 80-square-kilometre permit wedged between existing fields in its portfolio - East Spar, Spar, Halyard, John Brookes and Maitland.

Santos has a one-well exploration commitment before 23 November 2025.

Exploration

Aussie joint venture makes portfolio move at Bonaparte fields