Offshore Gas Exploration To Build Future Supply
29 May 2018
Victorian Government:
The Andrews Labor Government has today
released five new
oil and gas exploration blocks to help build long-term supply of
gas
for Victorian homes and businesses.
The blocks are all located in the offshore
Otway Basin in State
waters (up to 3 nautical miles off the coast) extending from Port
Campbell to the South Australian border and are part of the national
2018 Petroleum Exploration Acreage Release.
The Geological Survey of Victoria believes that the offshore Otway Basin
has the highest potential for new discoveries of gas in
Victoria.
The areas being released are near major existing producing gas fields,
established infrastructure and underground gas storage, including the
Otway Gas Processing Plant.
Today’s release follows Cooper Energy’s commencement of drilling by the
Ocean Monarch rig – the first well drilled to develop a new
gas field offshore from Victoria since 2012, and the awarding to
Cooper Energy of a new exploration permit in the Gippsland Basin.
An airborne gravity survey of the Otway Basin will also be conducted
later this year, covering up to 30,000 square kilometres, with data made
available to explorers to help them discover offshore gas.
It is part of the Government’s three-year Victorian Gas Program which is
using the latest
technology and research methods to get the clearest picture yet of
the state’s potential gas resources.
While we continue to encourage offshore gas exploration, only Labor will
keep the ban on fracking, which puts farmers first and protects their
world-class produce and our
environment.
Victoria has immense offshore resources to supply the east coast market,
with only half of the gas processed in this state used by Victorian
households and businesses.
The Government supports a domestic gas reserve and expects Australian
domestic consumers to be given the first reasonable offer to buy any new
gas that is discovered from the acreage release.
Companies can tender for the five new blocks to carry out exploration
activities. The closing date for applications is February 15, 2019.
Quotes attributable to the Minister for Resources Tim Pallas
“Many Victorian homes and businesses rely on gas and we support new
exploration and development of our vast offshore gas resources to ensure
long-term supply.”
“We’re focussed on the future and planning ahead to ensure Victoria, and
the east coast market, has the gas we need to support our growing
population and economy.”
“It’s time the Turnbull Government backed our call for a domestic gas
reserve so Australian gas goes to Australian households and businesses.”
--ENDS--
Source: Victorian Government - www.premier.vic.gov.au
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