The Queensland Government has introduced a range of measures to support gas exploration to mitigate the economic impacts of the COVID-19 pandemic.
These measures are designed to provide relief and flexibility to support explorers. They also encourage innovative exploration activities through a direct grant process.
The package provides companies with the ability to continue to operate now, and respond quickly when the health crisis abates and Australia’s economy begins to recover.
The Australian Petroleum Production and Exploration Association (APPEA) has welcomed the proposed measures.
APPEA Chief Executive, Andrew McConville, said the package would particularly help smaller exploration companies that continue to play a critical role in the identification and development of new energy resources.
“Successful exploration can deliver revenue for governments, jobs for workers and long-term energy security for Australia,” Mr McConville said.
“Current economic conditions have the potential to irreparably damage oil and gas exploration in Australia unless steps are taken to provide short-term relief to allow companies to remain in business until the economy has moved through the worst of the downturn.”
Mr McConville said the Australian oil and gas industry is responding to the personnel and operational challenges posed by the COVID-19 pandemic to protect the health and safety of its workforce and host communities, while ensuring vital energy supplies are maintained.
Mr McConville thanked Queensland Resources Minister, Dr Anthony Lynham, and the Queensland Government for working with industry bodies including the QEC, APPEA, the Queensland Resources Council and AMEC in developing the package.