Surat expansion proves Qld gas policy on track

Published Tuesday, 21 February, 2017 at 04:17 PM

Minister for State Development and Minister for Natural Resources and Mines
The Honourable Dr Anthony Lynham

Natural Resources and Mines Minister Dr Anthony Lynham today welcomed the latest vote of confidence in the Palaszczuk Government’s gas industry and policies.

“Today’s confirmation by Senex Energy that they will accelerate their proposed Western Surat Gas Project is great news for industry jobs and business opportunities,” he said.

“Ongoing investment in our $70 billion CSG-LNG industry shows we have the policy settings right in Queensland.

“We are keeping acreage open and actively going to tender.

“We awarded more than 2000 square kilometres for exploration in the Cooper Basin in December last year.

“We have called tenders for 58 square kilometres in the Surat in a pilot project where any gas produced will be for the Australian market only.

“Senex’s investment, like QGC’s $1.7 billion Charlie project west of Wandoan, show that Queensland remains an attractive resources investment destination.”

Senex Energy Ltd today announced the go-ahead for its first major investment in the Western Surat Gas Project, committing $50 million to a drilling campaign, aiming for production in mid-2018. This follows specialist energy investor EIG Global Energy Partners entering the project as a substantial shareholder earlier this month.

Dr Lynham said the Western Surat project would operate under a strong regulatory framework, strict environmental conditions and land access conduct and compensation requirements put in place by previous Labor governments.

ENDS

Media inquiries: Jan Martin 0439 341 314