A New Gas Industry Snapshot

A new 19-page snapshot developed by the GasFields Commission has been released aimed at providing real facts about the operations of Queensland petroleum and gas industry.

GAS SPEND
Data collection and dissemination was one of the recommendations of the Scott review into the GasFields Commission in 2016 and the long awaited report has now been released.

GasFields Commission CEO Carolyn Collins says the snapshot uses a wide range of data collected from across government and industry.

“The data is fact checked and then reproduced as an easy to read reference guide.”

“There has never been a central point for the collection of data for the Queensland gas industry in the past with different agencies, industry bodies and companies all collecting the information for different reasons and often in different formats.”

“What we’ve done with the snapshot is pull that data together into one document to provide a clearer picture of the industry”.

It shows that the petroleum and gas industry has contributed $418 million in royalties to the state government since 2010, invested $4.3 billion in exploration since 2007 and supported 1380 regional business in 2016/17.

Of the approximately 14,450 wells drilled in Queensland, around one quarter have since been converted to water bores or decommissioned and the sites rehabilitated.

About 76% of the active wells are in the Surat Basin, 12% in the northern Bowen Basin and another 12% in the Cooper and Eromanga basins.

At the end of June 2017 there were 5,711 Conduct and Compensation Agreements with landholders in place with $387 million paid to landholders in compensation.

Almost all the water take as part of gas production is being used for beneficial purposes including other agricultural production, aquifer recharge and industry.

The vast majority of groundwater take from the Surat Cumulative Management Area continues to be for agriculture.

Ms Collins says it’s hoped the accurate information about the industry will assist landholders, gas companies and government to make informed decisions about the future direction of the industry.

“There has been a lot of inaccurate and misleading information circulated in the past and this report should go a long way to correcting and clarifying the real state of the industry”.