Queensland-based company AusGasCo has been given the green light to explore for gas on prospective land in the world-class Bowen and Surat basins.
Minister for Resources Scott Stewart said first time explorer AusGasCo CSG Pty Ltd has been appointed preferred tenderer for two blocks, located to the east and south-east of Injune, totalling 114 square kilometres.
“Not only are we are doing all we can to get more gas in the market, but we are welcoming first time junior explorers to help bring more jobs and economic benefits to Queensland,” Mr Stewart said.
“In fact, during 2020 we released a total of 8205 square kilometres for gas exploration to maintain a pipeline of future resources projects.
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“These blocks were released during COVID-19 as part of the Palaszczuk Government’s economic plan for recovery.
“These were sought after due to their proximity to existing gas pipeline infrastructure and processing facilities,” he said.
AusGasCo Chairman Frank Connolly said the board and team are excited to be awarded preferred tenderer for the two parcels, Surat and Bowen, which will be foundation tenures for the company as a new entrant in the Queensland energy industry.
“I commend the Government’s confidence in junior explorers, promoting near-term Queensland petroleum exploration and encouraging private investment in the sector,” Mr Connolly said.
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“It will benefit the local communities and businesses of central Queensland, the Queensland energy market and the Queensland economy.
“The two tenures are complemented by their location next to a number of quality, producing coal seam gas fields with multiple domestic gas transmission pipelines nearby.”
Since 2015 the Palaszczuk Government has released more than 80,000 square kilometres of land for gas exploration, over a quarter of it guaranteeing the gas will be for Australian consumers.
The Palaszczuk Government is also investing $5 million to investigate the feasibility of a physical 500km gas transmission pipeline to connect the Bowen Basin to the domestic and export markets.