There is little over two weeks until the application window for the current Queensland exploration tender closes.
Applications to tender opened late last year for 10 new areas which cover 33,177km2 across the Bowen, Surat, Adavale, Galilee and Millungera basins. Applications need to be submitted to QTenders by 2.30pm on Thursday 13 February 2020 (AEST).
Successful applicants will need to satisfy the Department of Natural Resources Mines and Energy (DNRME) that the applicant has sufficient financial and technically capabilities to develop the areas.
Four of the areas open for tender are also subject to the new Australian Market Supply Condition (AMSC). The AMSC requires that:
- gas produced from the land must not be supplied other than to the Australian market; and
- any contract or other arrangements for the supply of the gas must include a condition that the gas must not be further supplied other than to the Australian market.
Addressing the AMSC now forms an essential part of the tender process for those areas affected and is essential to a successful application.
As a Queensland based law firm, McCullough Robertson has significant experience in navigating the requirements of the petroleum legislation, and working with proponents to ensure DNRME's requirements are met.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.