The Queensland Government may soon declare the gas-rich Cooper Basin, in the far south west corner of the state, Queensland’s latest economic zone in a bid to bolster industry.
Speaking at the Queensland Major Projects Conference today, Paul Fennelly from the APPEA, said the discovery of significant gas and oil deposits along with new drilling techniques made industry in the area increasingly more viable.
“The Cooper Basin is Queensland’s next big opportunity – The Queensland Government is now looking at the Cooper as an economic zone,” Mr Fennelly said.
“Initial exploration points to some significant deposits in the area, and new drilling methods coming from America, where they have a lot of wells and do a lot of drilling, are being looked at.”
The Cooper Basin lies primarily in the north west corner of South Australia with some overlap across the far south west corner of Queensland.
The Cooper Basin encompasses the Jackson Oilfields and contains known significant deposits of onshore petroleum and natural gas.