Queensland Government Releases 2 New Exploration Areas

Queensland Government Releases 2 New Exploration Areas
Australia's Queensland Government releases 2 new prospective areas for petroleum and gas exploration in Queensland's Bowen and Surat basins.

Australia’s Queensland Government (QG) announced Friday that it has released two new prospective areas for petroleum and gas exploration in Queensland's Bowen and Surat basins.

The first area, covering just the Bowen Basin, is approximately 33 square miles in size and comprises 28 sub-blocks. This area contains high prospectivity for coal seam gas, according to a government statement, with an estimated 177 petajoules of in-place gas volumes.

The second area spans the Bowen and Surat basins and covers an area of approximately 140 square miles, with 120 sub-blocks. This area offers moderate to high prospectivity for conventional, liquids rich gas, according to the QG.

Following the release, the government issued a call for tenders, which it said would close Thursday April 20, 2017.

The Australian Petroleum Production & Exploration Association (APPEA) industry body welcomed the release of the new areas, which it said displayed Queensland’s leading role in the Australian energy industry.

“The development of the natural gas industry has been of great benefit to regional Queensland,” said APPEA Chief Executive Dr Malcolm Roberts.

“Tapping into new gas reserves will sustain that success, creating more jobs and more investment in regional communities. COAG [Council of Australian Governments] recently highlighted the urgent need to develop new gas reserves in Australia to offset falling output from long-established gas fields. Queensland is leading the way,” he added.

Roberts outlined that more natural gas will be needed as Australia increases its use of renewable energy in the future, stating that as a low-emissions, rapid-response technology, gas-fired generation is the ideal complement to wind and solar.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com


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