PERTH (miningweekly) – Federal Resources, Water and Northern Australia Minister Keith Pitt has unveiled that the Cooper and Adavale basins, in South Australia and Queensland, would be the next focal points for the government’s Strategic Basin Plan.
Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference, Pitt noted that the Cooper basin was well known and regarded as an established onshore oil and gas producing basin, while the Adavale basin had untapped potential.
“Both are close to existing infrastructure and to the east coast market, making them natural choices.”
The federal government made A$28.3-million available to the Strategic Basin Plan during the 2020/21 budget, as part of its gas-fired recovery plans. The plans are aimed at unlocking and accelerating the development of Australia’s gas reserves to increase domestic supply and to lower energy prices.
“The first plan developed, the Beetaloo Strategic Basin Plan, fast-tracks access to a world-class resource that has the potential to drive significant development in Northern Australia.
“The $50-million Beetaloo Cooperative Drilling Program, a key part of the plan, will support operators to speed up their exploration and bring Beetaloo gas online faster. The program remains open to new applications,” said Pitt.
The Beetaloo Strategic Basin Plan would be followed by a plan focused on the North Bowen and Galilee basins in central Queensland.