Australian oil and gas firm Senex Energy has been awarded ‘preferred tenderer’ status for a natural gas acreage in the Surat and Bowen basins.
The latest move comes as part of the Queensland government’s domestic gas acreage tender process.
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This status brings the Australian firm’s natural gas footprint in Queensland to approximately 2,300km² of acreage across the Surat and Bowen basins.
It allows Senex to expand gas production at the Atlas block by 50% to around 18 petajoules (PJ) per year.
The preferred tenderer status will also see Senex conduct an initial four-year work programme featuring geological studies, 2D seismic acquisition, and an exploration well.
Senex Energy managing director and CEO Ian Davies said: “Senex is a material new entrant in a strong domestic market with high barriers to entry. We are increasing the supply of natural gas on the east coast to help our manufacturing sector, and we are here for the long term.
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By GlobalData“The Queensland government’s award of acreage to Senex strengthens our ability to leverage our established hub-and-spoke infrastructure model for accelerated supply of affordable natural gas to the domestic market.
“Senex is committed to investing for the long-term to unlock both development-ready and exploration opportunities. We welcome the proactive policies in place to encourage development of Australia’s vast natural gas resources, which will help deliver affordable and sustainable gas supply.”
In June, Senex Energy completed its A$400m ($278m) Surat basin natural gas development project in Queensland, Australia.
In May, Senex signed an agreement with Gladstone Liquefied Natural Gas (GLNG) to supply natural gas from the Roma North processing facility in Australia’s western Surat Basin to the domestic market.
