Published On : 24 Apr 2020
Shell, PetroChina and Arrow Energy have confirmed that their $10b investment in the Surat Basin Seam Gas project has gotten the green light.
This is set to be the biggest resource project in the state since 2011.
In total 1,000 construction and operations jobs will be created. The first 200 are expected to start this August.
The Surat Basin is located approximately 160km west of Brisbane. It covers an area of 2,500km2 and is estimated to hold as much as 60% of Australia’s proven Coal Seam Gas (CSG) reserve.
The project will bring up 90 billion cubic feet of new gas per year at its peak. Over its 27-year life, close to 500 trillion cubic feet of CSG will be extracted.
Existing processing and treatment plants, and transport infrastructure will be utilised to reduce the impact on the environment, landholders and communities surrounding the basin.
The project will inject significant cash into the local economy at a time of need. It is also expected to help overcome the state’s predicted gas shortages in the coming years.
Arrow energy currently operates 5 other gas fields in the region and produces equivalent of 40% of the Queensland’s domestic gas demand. In a statement they said, “In these challenging COVID-19 times, Arrow remains committed to operating its business and executing this project safely and responsibly to protect the health and well-being of its people and all of the regional communities.”
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