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Posted Mon Apr 21, 2008 6:13pm AEST
Mr Ferguson says the expansion of the continental shelf is a potential bonanza for Australia. (ABC News)
A United Nations commission has ruled that Australia can expand its continental shelf by 2.5 million square kilometres.
The UN Commission on the Limits of the Continental Shelf made the ruling after successive Australian governments sought clarification on the extent of control they had over the part of the continent that is submerged under the sea
Federal Resources and Energy Minister Martin Ferguson says the extra area could be full of resources.
"It means for a resource-rich nation such as Australia, added resource entitlements going to issues of oil and gas," he said.
"But also you might say additional responsibilities in terms of the floor of the seabed."
The decision gives Australia the right to look for resources in those areas, but does not give it control over shipping or whaling.
Mr Ferguson says he will ask the Governor-General to proclaim the land.
"This is potentially a bonanza, we have got unknown capacity out there," he said.
"It also raises questions about what potential regimes might be necessary in the future to encourage such exploration."
