The Coalition Government will deliver two new measures that will provide significant job and economic opportunities through the vast potential of gas reserves in the Cooper and Adavale basins.
Maranoa MP David Littleproud said the Cooper and Adavale Basins, spread across north-eastern South Australia and south-western Queensland, as the third basin plan to be delivered under the Gas Fired Recovery announced in the 2020-21 Federal Budget.
Mr Littleproud said the Cooper-Adavale region encompasses one of Australia’s premier oil and gas producing regions.
“The Cooper-Adavale region is a well-established gas producing area and has supplied Australian businesses and residents since the 1960s,” Mr Littleproud said.
“This plan supports the government’s vision to unlock Australia’s vast gas resources to increase the nation’s gas supply and create major new job opportunities.
“The work will provide fresh insights into this region, and a deeper understanding of the area’s geological history and potential for resource development.”
The government will dedicate more than $60 million in two new initiatives to bring new gas to market.
- The $30.9 million Data Driven Discoveries, led by Geoscience Australia, will collect and publish new geoscientific data to drive exploration investment to prove up the basin’s resource potential. This activity will mostly focus on the underexplored Adavale basin.
- The $30 million Optimise and Discover Program, will increase gas supplies and increase competition between gas producers in the Cooper and Adavale basins. It will bring forward the development of a strong and diverse portfolio of oil and gas resources in the basins.
“We are committed to ensuring that resources developments benefit all Australians particularly regional communities like those in Maranoa,” Mr Littleproud said.
“While domestic energy users and the broader Australian public stand to benefit from projects like this, there is enormous potential for local job and economic opportunities.”
The Government will work with state and local governments, industry, communities and scientific experts to unlock the potential of the basins, for the benefit of all.
The Government earlier this year released strategic plans for the Beetaloo Basin in the Northern Territory and the North Bowen and Galilee Basin in Queensland.
