Queensland awards new petroleum acreage to boost energy supply and reduce prices
The Queensland government has awarded new petroleum and gas exploration tenders for five key areas across the Cooper-Eromanga Basin and Taroom Trough, with the goal of boosting domestic energy supplies and reducing local energy prices. This move is part of a broader strategy to restore confidence in the resource industry and secure long-term energy projects following years of regulatory uncertainty.
Australian-owned operator Bridgeport Energy secured approximately 2,712 square kilometers across three blocks in the Cooper-Eromanga Basin, while junior explorer Vintage Energy was awarded a 625-square-kilometer block in the same region. Additionally, a consortium including XST Taroom, Cooper Energy, Imperial Oil and Gas, and Eastern States Energy won exploration rights over 306 square kilometers in the Taroom Trough.
Minister for Natural Resources and Mines Dale Last emphasized that the strong interest in new acreage signals renewed investor confidence in Queensland’s resources sector. He stated, “We have worked hard to win back the resource industry’s trust and investment dollars to secure the next generation of projects, jobs and investment.” Bridgeport Energy’s Managing Director Christian Lange noted that the new blocks extend the company’s existing footprint, while Vintage Energy’s Neil Gibbins highlighted the importance of supporting agile junior explorers.
The exploration works are expected to generate immediate investment and employment opportunities in regional Queensland, while also strengthening national fuel security.