AusBN – The state government of Queensland, Australia has released 11,000 square kilometres of land for oil & gas development in an attempt to attract investment.
The land released sits within the Cooper, Eromanga and Surat basins, making it a prime target for hydrocarbon exploration.
Dr. Anthony Lynham, minister for state development, natural resources and mines, said both the land and its nearby infrastructure presented a brilliant opportunity for investors.
“The Cooper and Eromanga basins contain vast petroleum and gas resources and are considered among Australia’s most prospective and commercially viable regions for deep gas and oil development,” he said.
“Into the bargain, Queensland offers potential investors access to A$70 billion worth of infrastructure in pipelines, processing facilities and liquefaction plants.”
The Queensland government is keen to attract the attention of explorers and investors in Europe, North America and Asia.
On offer are six-year petroleum and gas exploration permits, which would be awarded only after the buyer met environmental, land access and native title requirements.