Companies can now apply for funding which encourages innovative drilling in greenfields and under-explored areas of Western Australia.

The West Australian Department of Mines, Industry Regulation and Safety has announced the opening of applications for Round 23 of the Exploration Incentive Scheme’s (EIS) Co-funded Exploration Drilling Program and a new Energy Analysis Program (EAP) for petroleum and geothermal companies.

The EIS program provides $5 million a year to encourage innovative drilling in greenfields and under-explored areas of Western Australia.

The EAP offers funding for the analysis of existing resources such as drill core, sidewall core and cuttings. The program will also fund applicants seeking to re-analyse existing geoscientific data to achieve a better understanding of WA’s petroleum and geothermal systems.

Applications for funding will open twice a year, and offers a refund of up to 50 per cent of analysis costs to a maximum of $50,000 per application.

The department will allocate around $250,000 to the EAP during each funding round.

Recent co-funded drilling successes include Explaurum’s Tampia project, drilled as part of Round 16. R

Applications for the co-funded programs close at 5pm Friday, 26 February 2020.

More information is available on the department’s website here.