Santos today announced it has been awarded four new gas exploration permits in the Surat Basin east of Roma in Queensland. Two of the permits are for domestic-only supply and two could supply both domestic and LNG markets.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said these blocks offered exciting domestic and LNG development opportunities close to existing infrastructure and adjacent to promising Santos-owned coal seam gas pilot activities.
“This means Santos will be able to get gas to market faster and at a lower cost of supply, which is the best way to put downward pressure on gas prices,” Mr Gallagher said.
“Minister for Natural Resources, Mines and Energy, Anthony Lynham, has been a great supporter of the gas industry in Queensland, ensuring there is an ongoing pipeline of new supply opportunities so that explorers and producers like Santos can unlock gas for local manufacturers and electricity generators and provide long-term security of gas supply at competitive prices.
“Opening up these opportunities is also creating jobs and investment in Queensland at a time when they are more important than ever.
“We’re very pleased to work with the Queensland Government to continue to explore and develop new gas supplies for both domestic and LNG markets,” Mr Gallagher said.
“Queensland continues to lead the way and do the heavy lifting for the east coast gas market in Australia and in doing so, Queensland communities like Roma are benefiting with stronger local economies.”
In the Roma region in 2018, Santos:
- Employed 465 people and paid over $5.5 million in wages
- Purchased more than $90 million in local goods and services
- Paid over $16 million to local government authorities
- Made landholder payments of almost $17 million
- Invested nearly $1.5 million in community partnerships.
“Santos is proud to invest in the communities in which we operate and partner with local businesses to create jobs and safely and sustainable develop Australia’s natural gas reserves,” Mr Gallagher said.