The Queensland Government has released two tenders for exploration of more than 450km2 of land in the Bowen and Surat basins.
Tender 1 – Bowen Basin (PLR2016/17-1A) is a competitive cash tender with high prospectivity for coal seam gas, about 65km north of Injune, Queensland. Total available area is about 86 km2
Tender 2 – Bowen and Surat basins (PLR2016/17-1B) is a competitive non-cash tender with moderate to high prospectivity for conventional liquids-rich gas, about 40km south-east of Surat. Total available area is about 365 km2.
Queensland Minister for State Development and Minister for Natural Resources and Mines, Dr Anthony Lynham, said the two parcels of land were released 11 November, with the tender process expected to be highly competitive.
“Exploration is the vital first step towards future resource production that creates jobs and attracts economic investment – both of which are so valuable for Queensland’s regional communities,” Dr Lynham said.
“Two prospective areas will be released on Friday through competitive cash and non-cash tender processes for petroleum and gas exploration in the Bowen and Surat basins.
“While these areas are widely recognised around the world as having extensive coal seam gas resources, it’s also the transport infrastructure, stable government and other support services that makes Queensland so appealing to investors.
“Both basins are serviced by processing facilities, major transmission pipelines connecting gas fields to the state’s export LNG hub in Gladstone, and a full network of telecommunications, transport and energy infrastructure.”
Preferred tenderers must meet environmental, native title and land access requirements before commencing on-ground exploration.
APPEA Chief Executive, Dr Malcolm Roberts, said the new acreage will give the industry more options to supply the growing demand for gas and was further proof of Queensland’s leading role in the Australian industry.
“The development of the natural gas industry has been of great benefit to regional Queensland.
“Tapping into new gas reserves will sustain that success, creating more jobs and more investment in regional communities,” Dr Roberts said.
Dr Roberts said Queensland was leading the way after COAG recently highlighted the need for developing new gas reserves in Australia to offset falling output from long-established gas fields.
“Despite subdued global prices, the outlook for the local industry is very positive. More natural gas will be needed as Australia increases its use of renewable energy: as a low-emissions, rapid-response technology, gas-fired generation is the ideal complement to wind and solar.
“The Queensland Minister for Natural Resources and Mines is to be congratulated for his reforms. These have improved the transparency of acreage releases, ensuring early and open consultation with the community well before any exploration begins.”
Submissions to tender will close 20 April 2017.