Queensland Opens New Areas for Gas Exploration

Queensland government on Thursday announced release of new exploration acreages in the state, which will underpin its $1.55 billion (AUD 1.9 billion) gas industry.

The government is seeking interest from around the globe in exploring for potentially-rich petroleum and gas resources of Queensland’s far south-western corner.

Minister for State Development and Minister for Natural Resources and Mines Anthony Lynham said 4,247 square miles (11,000 square kilometers) in Cooper and Eromanga basins was being released for exploration expressions of interest.

“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 $57 billion (AUD 70 billion) worth of infrastructure in pipelines, processing facilities and liquefaction plants,” Lynham said.

Apart for the two basins, one small area of highly-prospective land in the Surat Basin will also be open for exploration.

The Department of Natural Resources was targeting potential explorers and investors in Europe, North America and Asia through international industry media and events.

“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.

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 closing date for tenders is 8 October 2015.