The Papua New Guinea Government is promoting 15 offshore blocks to interested companies in the oil and gas sectors.
The Petroleum and Energy Minister Sir Moi Avei said the Government would allow a transparent bidding process to take place.
The Post Courier newspaper reports the 15 blocks are located in the Gulf of Papua.
Fugro Australia Limited has been engaged by the PNG Government to carry out a seismic survey.
Sir Moi said many multinational companies have indicated their interest to attend road shows in Singapore, Houston, London and Perth.
He said the bidding process would take up to six months.