Work has kicked off on Queensland’s annual exploration program.
According to the Queensland Government, the program provides a more systematic process for releasing resource exploration tenders and to further bolster the state’s $20 billion-plus resources sector.
“The annual exploration program identifies the exploration areas and timing of release, and the Palaszczuk Government’s priorities for the responsible development of our minerals, petroleum and gas, and coal resources,’’ Minister for Natural Resources and Mines Anthony Lynham said.
“This information helps resource companies plan their exploration and provides additional opportunities to promote Queensland on a global scale.
“The value of Queensland’s resources sector is around $20.56 billion, and Queenslanders can be confident that the Palaszczuk Government’s resources are being used responsibly and sustainably.”
Lynham said extensive consultation had occurred, resulting in an increase in land acreage releases, particularly for petroleum and gas to help tackle the looming east coast gas shortage.
“Introduction of a more streamlined tender process for petroleum and gas tenders to better support the industry and the identification of two potential areas, for domestic supply only, are initiatives delivering on our commitment to creating economic opportunities in a balanced and sustainable fashion,” Lynham concluded.