The Queensland Government has announced the release of 18 new highly prospective petroleum and gas, coal, and mineral exploration areas as part of its plan to secure a pipeline of future energy and minerals projects for the state.
A competitive tender process is now open for:
- 12 petroleum and gas areas totalling more than 7,000km² – about twice the size of Townsville – in the Bowen/Surat and Cooper/Eromanga Basins;
- four coal areas totaling approximately 235km² across the Bowen/Surat basins;
- two vanadium areas totaling approximately 269km² northeast of Julia Creek, containing one of the largest known vanadium resources in the world.
Four of the petroleum and gas areas will be released subject to an Australian Market Supply Condition, ensuring any gas produced from those tenures is supplied to the domestic market to put downward pressure on energy prices, the Government said in a statement.
The release follows the recent appointment of preferred tenderers to explore for petroleum and gas in the Cooper/Eromanga basins and the Taroom Trough, bringing more than $100 million of new exploration activity into the State and importantly, into regional Queensland.
Minister for Natural Resources and Mines, Dale Last said this new release of land was continuing the Government’s plan to secure long-term energy supply, create regional jobs and deliver economic growth.
“Exploration is where every major project begins and without it, there is no pipeline of future supply,” Minister Last said.
“This release is part of a broader plan to ensure Queensland continues building its pipeline of petroleum, gas, coal and mineral projects, delivering long-term energy security and economic growth.
“We’re sending a clear message that Queensland is open for business, and we are serious about securing long-term energy supply for Australian households and businesses.
“By applying domestic market supply conditions to key gas areas and unlocking new highly prospective ground, we’re strengthening energy security and supporting regional jobs.
“From the emerging potential of the Taroom Trough to new vanadium opportunities near Julia Creek, Queensland is positioning itself at the forefront of the next generation of resource development.
“We will continue to ensure areas are made available for exploration with a new expression of interest process for industry anticipated to open later in the year.”
For information on the tender process visit: https://www.business.qld.gov.au/industries/mining-energy-water/resources/geoscience-information/exploration-incentives/tenders.
