Sydney-Ten new petroleum exploration permits have been awarded offshore northwestern Australia, where the contractors have committed to spending a total of at least A$158 million ($139 million), federal Minister for Resources and Energy Martin Ferguson said October 2. "Despite the global economic downturn, the awarding of these 10 new exploration permits indicates that Australia remains a highly attractive and secure destination for offshore petroleum exploration," Ferguson said in a statement. "This additional investment in Australia's offshore petroleum exploration sector not only offers exciting potential for petroleum discovery but will ultimately help to further develop our petroleum resources and underpin our security of energy supply."
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