Queensland to seek international partners for petroleum and gas exploration

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Image credit: www.FreeDigitalPhotos.net user: Stuart Miles

The Palaszczuk Government is on the hunt for potential investors from around the world to explore the “potentially-rich” petroleum and gas regions of Queensland’s far south-western corner.

Image credit: www.FreeDigitalPhotos.net user: Stuart Miles
Image credit: www.FreeDigitalPhotos.net
user: Stuart Miles

Queensland’s Minister for Natural Resources and Mines Dr Anthony Lynham said on Thursday that 11,000 square kilometres will be released for exploration expressions of interest.

He said most of the land being made available was in the Cooper and Eromanga Basins, with one small area of highly-prospective land in the Surat Basin stretching on about 6 square kilometres of high-prospective land, 22 km south-east of Condamine.

“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. New discoveries of gas resources will support future domestic gas supplies for Queensland as well as our world-leading liquefied natural gas industry,” Dr Lynham said in a media statement.

Adertisement

“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. Into the bargain, Queensland offers potential investors access to $70 billion worth of infrastructure in pipelines, processing facilities and liquefaction plants.”

He said the Labor Government was committed to put Queensland back on course for long-term, sustainable growth by working with industry to deliver jobs, regional development opportunities and other economic benefits for the State.

“The CSG-LNG industry operates under a strong regulatory framework, strict environmental conditions and land access conduct and compensation requirements put in place by Beattie and Bligh Labor governments. Exploration is vital to ensure we have a strong resources sector that will continue to make a significant contribution to Queensland’s future economic prosperity. DNRM is working closely with Queensland’s trade commissioner network to access the decision-makers in the targeted investor markets,” the Minister said.

“We want to promote these exploration opportunities at key international events such as the World Gas Conference in Paris in June. The exploration tenders will also feature at the Australian Petroleum Production and Exploration Association (APPEA) national conference and exhibition in Melbourne next week.”

Dr Lynham said the closing date for tenders was 8 October 2015, adding that 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.

“The Cooper and Eromanga Basins competitive tender will not include a cash component and applicants will be assessed according to their proposed exploration work programs,” he said.

“The Surat Basin competitive tender for the parcel of land near Condamine will, however, include a cash component because it is highly prospective and close to existing coal seam gas production leases.”