Deep oil and natural gas resource growth is set to generate new jobs in regional Queensland and bring on huge economic benefits statewide.
While exploration for the resources is still in its early ages, existing legislation allows for the extraction of the gases and oils, which are typically more difficult to obtain given they are generally confined to deep reservoirs, or are in hard rock formations like shale rock, which has low porosity and permeability.
Natural Resources and Mines Minister Andrew Cripps released A framework for the Next Generation of Onshore Oil and Natural Gas in Queensland, outlining the opportunities for the sector. Mr Cripps said that tapping into the resources would build on the State Government’s commitment to continuing to grow the sector and create more jobs for Queensland’s regional families.
“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 followed through by the Department of Natural Resources and Mines and other government bodies, including a review of tenure arrangements for the industry and improving geoscientific knowledge of deep gas and oil reserves. Another recommendation was to develop the 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”.
“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,” Mr Cripps said.