Round includes launch of new co-funded Energy Analysis Program (EAP)
|Date:||Monday, 01 February 2021|
The department today 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 highly popular 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. Ramelius Resources, which bought the Tampia project in early 2019 after Explaurum’s successful drilling campaign, recently announced preparatory work for a new gold mine on the tenement.
Applications for the co-funded programs close at 4pm Friday, 26 February 2020.
More information is available on the department’s website.