HUGE GAS RESERVES BELIEVED TO BE IN THE FRASER COAST
BLUE Energy and joint venture partner Beach Energy will start the exploration process for commercial quantities of gas in the Fraser Coast region after being granted two more exploration tenements in the Maryborough Basin.
The new permits extend the group’s prospective area from around Maryborough, Hervey Bay and Burrum Heads towards Bundaberg centralizing in the old coal mining areas of Torbanlea & Howard
Blue Energy managing director John Phillips said the companies believed the Maryborough Basin was prospective for natural gas and the grant of the two permits would initiate the exploration process in search of commercial quantities of gas.
He said prior to any on-ground activity – seismic acquisition or drilling, the company would conduct the required environmental surveys and consult with relevant stakeholders who might be impacted by early exploration activities.
“The importance of confirming a commercial gas resource in the Maryborough Basin cannot be overstated,” Mr Phillips said.
“Significant gas discovered in this region could provide a viable alternate supply of energy for the Maryborough region and also supply natural gas for the south-east Queensland region, including Brisbane.
“This would then reduce the pressure on existing domestic gas supplies whilst also offering the potential to supply the export market.
“The economic input to the local economy could also be substantial.”
He said previous exploration had identified the gas potential of the basin with gas flows recorded from some of the early wells.
“Importantly, there are several different potential types of gas resources that may be confirmed by the exploration process undertaken by the joint venture,” Mr Phillips said.
Sourced from local newspaper chronicle & published by Henry Sapiecha