Queensland leads the way with new gas supplies
5 September 2017
The Queensland Resources Council (QRC) congratulates Minister Lynham on awarding Senex as the preferred tenderer for a Petroleum Lease in the Surat Basin.
QRC’s Chief Executive Ian Macfarlane said the high-quality gas acreage would translate into an increase of reliable gas supplies into the east coast electricity market.
“Once again Queensland is leading the way in securing Australia’s energy position by taking a proactive approach to energy prices by increasing supply with an Australian-only sale condition,” Mr Macfarlane said.
“Queensland based Senex will open up 58 square kilometres of acreage, drill close to 100 wells, create around 150 jobs and inject more than $200 million over the life of the project.
“This announcement demonstrates Queensland is getting on with the job of opening up new gas supplies while political interference in New South Wales and Victoria has completely stalled gas exploration.”
The acreage contains P50 recoverable gas volumes of 201PJ and is capable of sustaining production rates of more than 30 terajoules a day with a target of first gas in 2019.
QRC’s current data shows that in 2015-16, the state’s gas industry contributed $12.8 billion to the state’s economy and supported 65,000 jobs.
Media contact: Anthony Donaghy 0412 450 360