OIL-GAS-AMR

Tenders open for LNG exploration in Queensland

The State 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 Natural Resources and Mines Dr Anthony Lynham said today 11,000 sq km was being released for exploration expressions of interest.

“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.

“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.”

Dr 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.

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 area covers about 11,000 sq km in size in the remote, sparsely populated south-west corner bounded by Windorah, Betoota, Eromanga and the South Australian border.

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

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.

The closing date for tenders is October 8, 2015.

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