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Dale Last, the State Minister for Natural Resources and Mines, has announced that the Taroom Trough, located approximately 300 kilometers west of Brisbane, could significantly rejuvenate Australia’s domestic oil production industry.
“This newly designated exploration zone is pivotal for enhancing Queensland’s energy resources, which could help reduce energy costs,” Last stated yesterday.
Spanning 750 square kilometers—comparable in size to Singapore—this exploration zone is part of a broader set of areas that were opened for tender last year.
Exploration licenses for oil and gas drilling have been granted to energy companies Omega TN Pty Ltd, Tri-Star Stonecroft Pty Ltd, and Drillsearch Energy Pty Ltd.
In line with the Australian Market Supply Condition, the state government assures that any gas discoveries in the Taroom Trough will first serve Australian households and businesses.
Australian Energy Producers, which represents oil and gas producers, says the move has the potential to unlock the country’s first major new oil province since the 1970s.
“Opening up new basins like the Taroom Trough is essential to securing Australia’s next wave of oil and gas supply,” he said.
“It sends a strong signal Queensland is open for business and serious about attracting the investment needed to support regional jobs and future energy security.”
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