The federal government has made available almost 47,000 square kilometres of waters for oil and gas exploration.
The release in Commonwealth offshore waters comprises 10 areas across the Bonaparte, Browse, Carnarvon, and Gippsland basins off the coasts of the Northern Territory, Western Australia, Victoria, and the Ashmore and Cartier Islands.
Resources Minister Madeleine King said the release would play an important role in securing future energy supplies.
"The annual release of areas for offshore petroleum exploration supports ongoing investment in the nation's petroleum sector, which is vital for the economy and meeting the energy needs of Australians," she said.
"At the same time as we strive to reduce emissions it must be emphasised that continued exploration for oil and gas in Commonwealth waters is central to alleviating future domestic gas shortfalls."
Russia's invasion of Ukraine has rocked global supplies of gas, which the government sees as a transition fuel as Australia works to reach net zero emissions by 2050.
Bidding for the areas will close on March 2.
Australian Petroleum Production and Exploration Association chief Samantha McCulloch said more exploration meant more supply.
"This means continued energy security for Australian homes and businesses," she said.
The industry group also welcomed the federal government's announcement of two permits to assess greenhouse gas storage potential in waters off the NT and WA.
Greens spokesman Peter Whish-Wilson said making the exploration areas available was a gift to fossil fuel companies.
"Labor has made a mockery of its own weak climate target by offering up new areas of ocean acreage for fossil fuel companies to plunder, pollute and profit from in a time of climate emergency," Senator Whish-Wilson said.
He said the Morrison government had stopped the PEP-11 exploration project off the NSW coast following public opposition, and Prime Minister Anthony Albanese had agreed with that decision.
"If opposing fossil fuel exploration due to community and environmental concerns was good enough for NSW, then it's sheer hypocrisy not to do the same for coastlines right around Australia," the senator said.
