Queensland Opens Bid for Oil, Gas Permits

The Queensland government has opened first cash bids for oil and gas blocks under a new competitive tendering process, Australian Financial Review reported last week.

Natural Resources and Mines Minister Andrew Cripps says two blocks will be auctioned off, one near Condamine and the other near Miles in southern Queensland, AFR reported.

"Companies will be able to submit a tender to explore in two areas of potentially highly prospective land for petroleum and gas in the Surat Basin," he said in a statement.

The minister said the process would apply only to large highly prospective gas, oil and coal areas chosen by the government and not all new blocks. The government has earlier this month announced its intention to allot gas and oil blocks to firms interested in exploiting the resources. 

Expressions of interest for the two cash-bidding tenders close on February 14.