The Queensland Government’s move to foster further exploration of the state’s abundant natural gas resources sends a strong message to both local and global explorers wanting to invest in a world-class resource industry, according to APPEA.
The Government has indicated that 11,000 square kilometres are being released for exploration expressions of interest. 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.
The Cooper and Eromanga Basins (PLR2015-2) land covers a remote, sparsely populated south-west corner area bounded by Windorah, Betoota, Eromanga and the South Australian border.
The Surat Basin (PLR2015-1) area is about six square kilometres of highly prospective land, 22km south-east of Condamine.
APPEA Acting Chief Executive Paul Fennelly said: “Bringing more gas to market also removes need for unworkable intervention policies, such as domestic gas reservation, that can only create adverse economic outcomes in the longer term.”