Oil Search said it has formed a study group in which it holds a 40% interest and is the operator, together with BG (40%) and Nippon (20%).
Bids for the 15 blocks in the Gulf of Papua are due by 13 April 2007, and Oil Search said it anticipates the group "will participate in the bid round".
The release area covers both shallow and deep-water areas and includes some nearby onshore blocks.
