AUSTRALIA: The Queensland government has appointed Denison Gas Limited and its affiliates (Denison) as the preferred tenderer for three new exploration areas, marking a significant expansion of the company’s operations in the Bowen Basin.
This development comes as part of the state’s most recent petroleum land release initiative.
The newly awarded exploration areas are strategically located adjacent to Denison’s existing tenements in the Bowen Basin.
This proximity is expected to facilitate seamless integration into the company’s current operational activities, potentially enhancing efficiency and resource utilisation.
Following this appointment, Denison is now focused on obtaining the necessary regulatory approvals, including consent from native title parties.
These approvals are crucial for the formal issuance of exploration permits for the newly acquired areas.
Benson Wong, Executive Director of Denison, expressed enthusiasm about the announcement, stating: “The appointment of Denison Gas as preferred tenderer for three new areas is a strong endorsement of Denison’s role in growing gas supplies for the Australian domestic market.”
Wong emphasised the strategic importance of the new areas, noting: “These new areas are next to our current sites and will provide natural growth opportunities for Denison, enabling us to continue to support the security of Australia’s energy supplies.”
The expansion aligns with the federal government’s recently outlined Future Gas Strategy, which underscores the vital role of gas in Australia’s energy transition.
Wong acknowledged this, stating: “As the federal government has recently outlined in its Future Gas Strategy, gas has a vital role to play in Australia’s energy transition. This new award will help Denison to continue to play its part.”
Wong concluded by expressing gratitude to the Queensland government for their confidence in Denison Gas, highlighting the collaborative effort between the private sector and government in advancing Australia’s energy sector.
As Denison Gas moves forward with the regulatory approval process, industry observers will be watching closely to see how this expansion impacts the company’s production capabilities and its contribution to Australia’s domestic gas supply.
