The development of deep oil and natural gas resources is set to create new jobs in regional Queensland and unlock major economic benefits for the whole state.
Natural Resources and Mines Minister Andrew Cripps today released A framework for the Next Generation of Onshore Oil and Natural Gas in Queensland, which outlines the opportunities for developing Queensland’s next generation of deep gas and oil projects.
“Queensland is potentially rich in deep gas and oil resources and tapping these would build on the State Government’s commitment to growing the resources sector and creating more jobs for families in the regions,” Mr Cripps said.
“This industry has enormous potential to increase the state’s domestic and export gas supplies, while delivering the substantial economic benefits for Queensland that come from having a secure energy supply.
“That’s why encouraging the responsible development of the emerging deep gas and oil industry is an important part of the Newman Government’s ResourcesQ 30-year vision for the resources sector.”
Deep gas and oil are typically more difficult to extract as they are trapped in deep reservoirs, or in hard rock formations, such as sedimentary shale rock, that have low permeability and low porosity.
Existing legislation allows the extraction of these resources, but exploration is still in its early stages in Queensland and the new framework has been compiled to ensure the industry’s future expansion is successful, environmentally responsible and accepted by communities.
“Queensland is fortunate to already have an effective, existing framework for oil and gas extraction that will also apply to deep gas and oil,” Mr Cripps said.
“However, this emerging industry must grow in a way that protects the environment and benefits our communities.”
The framework contains 12 recommendations to be implemented by the Department of Natural Resources and Mines and other government bodies, including a review of tenure arrangements for the industry, improving geoscientific knowledge of deep gas and oil reserves and informing landholders and communities about the emerging industry.
Mr Cripps said another recommendation included developing a Cooper Basin Industry Development Strategy.
“The Cooper Basin already has deep gas production on the South Australian side of the border, as well as a long history of conventional oil and gas development,” he said.
“The Cooper Basin Industry Development Strategy will take a big-picture, long-term view of how all resource projects in this area can operate collaboratively in a way that’s best for the local community and economically viable,” he said.
More information is available here.