QLD Govt releases major gas acreage
The Queensland Government is seeking interest from oil and gas exploration companies from around the globe, following the release of 11,000 sq km for exploration expressions of interest.
The release, in the state’s south-west corner, has been billed by the government as underpinning the $A1.9 billion gas industry, while supporting future domestic gas supplies for Queensland and its LNG export industry.
“The Cooper and Eromanga Basins contain vast petroleum and gas resources and are considered among Australia’s most prospective and commercially-viable regions for deep gas and oil development,” Queensland Minister for State Development and Natural Resources and Mines Dr Anthony Lynham said.
“Into the bargain, Queensland offers potential investors access to $A70 billion worth of infrastructure in pipelines, processing facilities and liquefaction plants.”
Dr Lynham said the Department of Natural Resources was targeting potential explorers and investors in Europe, North America and Asia through international industry media and events.
Most of the land being made available is in the Cooper and Eromanga Basins, with one small area of highly-prospective land in the Surat Basin.
Australian Petroleum Production and Exploration Association (APPEA) Acting Chief Executive Paul Fennelly said today’s exploration can lead to tomorrow’s production, job creation and regional growth.
“An important signal has been sent to explorers, particularly many local small explorers, with the know-how and expertise to find new energy. Queensland is open for business backed by science and the highest of professional standards,” Mr Fennelly said.
“This also recognises Queensland’s place as a major global energy supplier at home and abroad, highlighting what can be achieved through a strong regulatory framework and government leadership.”
The exploration tenders will feature at key international events such as the World Gas conference in Paris in June, and the Australian Petroleum Production and Exploration Association (APPEA) conference in Melbourne next week.
Tenders close 8 October 2015.