Exploration and tenure progress powers confidence in oil and gas

Video grabs of QRC CEO Janette Hewson

Oil and gas development in Queensland is heading in the right direction with encouraging progress in exploration and land releases, according to the Queensland Resources Council (QRC).

QRC CEO Janette Hewson, speaking at a Resources Roundup event with industry and politicians at Parliament House last night, said recent policy decisions for the gas sector were welcome.

“It’s encouraging to see new oil and gas developments like yesterday’s announcement of the new Taroom Trough exploration tenement – it’s a move forward as a result of good policy decisions,” Ms Hewson said.

“The promise of this oil frontier for the state and Australia has significant potential for domestic oil production.

“The announcement also aligns with QRC’s submission to the National Gas Market Review that recommended the opening of more reserves to lower costs for all consumers.

“We hope the land release framework review findings will support future tenure releases and enhance Queensland’s project pipeline.

“It’s very encouraging to see this announcement alongside releases in other gas exploration areas such as the Cooper-Eromanga Basin near the Queensland-South Australia border.

“This is a sector that goes a long way for Queenslanders since established a decade ago, and last year contributed $21.7 billion to the state.”

Toowoomba and Surat Basin Enterprise Strategic Partnerships Manager Lance MacManus said the new exploration tenements had a lot of potential for regional development and opportunity for business.

“This major step forward brings not only further energy security, it also opens more opportunities for our local businesses across the Downs and beyond,” Mr MacManus said.

“The new investment is fantastic news for our region and will continue to bring further opportunities and jobs. We look forward to helping our local businesses grow.”

About 170 industry leaders, policymakers and stakeholders gathered for the QRC’s Resources Roundup event last night.

Ms Hewson outlined the year ahead for the resources sector in Queensland – with a focus on policies to build competitiveness.

“Resources are still the powerhouse of this state, supporting one in every five Queensland jobs and 17,600 local businesses.

“If we want regions to proposer long-term, we seek the Government’s support to respond to changing market and global conditions.

“The upcoming State Budget is a perfect time to make fairer returns for regions and support the next generation of resource investments, including natural gas and critical minerals.”

Media Contact:

Miguel Holland – [email protected] or 0437 758 347