The Queensland Government has put 11,000 sq km of exploration acreage up for grabs, with most of the available land concentrated in the prospective Cooper and Eromanga Basins.
State Development Natural Resources and Mines Minister Dr Anthony Lynham said the state was seeking interest from around the globe in exploring for potentially-rich petroleum and gas resources of Queensland’s far southwestern corner.
“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,” he said.
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.
While most of the land being made available is in the Cooper and Eromanga Basins, there is one small area of highly-prospective land in the Surat Basin.
“This is the first of a four-year land release plan for the Copper and Eromanga Basins and is designed to attract junior and major explorers,” Lynham said.
The Surat Basin (PLR2015-1) area is about 6 sq km, 22 km southeast of Condamine while the Cooper and Eromanga Basins (PLR2015-2) covers a remote, sparsely populated southwest corner area bounded by Windorah, Betoota, Eromanga and the South Australian border.
“This is close to the existing operations and infrastructure of both QGC and APLNG. QGC will tomorrow commission its first plant at Gladstone, APLNG is projecting it will export its first LNG in October, and Santos GLNG is set for export in the third quarter of 2015,” Lynham said.
“Further exploration and development represented a new and significant opportunity for regional development and jobs; including in the Barcoo, Diamantina, Bulloo and Quilpie shires.
“The Labor Government is putting Queensland back on course for long-term, sustainable growth by working with industry to deliver jobs, regional development opportunities and other economic benefits for our State.”
Successful tenderers will be granted a petroleum and gas authority to prospect exploration permit for a six-year term after meeting environmental, land access and any native title requirements.
Peak industry body APPEA said today’s exploration creates 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,” APPEA acting CEO Paul Fennelly said.
“This also recognizes 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.”
Petroleum exploration will be a key point of discussion at the APPEA Conference and Exhibition, which starts in Melbourne on Sunday.
Lauren Barrett can be reached at lbarrett@hartenergy.com
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