Melbourne, Apr. 21: Following an agreement with the United Nations, Australia has been able to extend its territory by 2.5 million square kilometres, making it 20 times bigger than the United Kingdom.

Australia’s Resources Minister Martin Ferguson was quoted by news. com. au as saying that that Australia was now the largest island in the world, having extended its continental shelf in agreement with the United Nations.

"That is an area five times the size of France, 10 times the size of New Zealand, and 20 times the size of the United Kingdom," Ferguson added.

Ferguson, however, could not put a figure on the potential oil and gas reserves contained in the areas.

"This is potentially a bonanza. We have got unknown capacity up there." (ANI)