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The Queensland Government is calling on Canberra to expedite environmental approvals for what it says is Australia's first new oil field in half a century, as the state moves to unlock the Taroom Trough in a bid to shore up domestic fuel security.
Premier David Crisafulli wants the federal government to use its National Interest Fast-Track Assessment Pathway to accelerate Environment Protection and Biodiversity Conservation Act approvals for the project, which sits in the state's Surat Basin region.
Shell is already producing 200 barrels of high-quality crude oil per day from the Taroom Trough, with the output being refined into diesel at IOR's Eromanga refinery in western Queensland.
IOR has been operating the Eromanga refinery since 1986, producing diesel fuels, heating oils and kerosene, as well as variety of speciality petroleum products for industrial uses.
“Unlocking the Taroom Trough is critical to locking in future national fuel security,” says Crisafulli.
“This is about streamlining the process and coordinating infrastructure needed to get it out of the ground sooner.
“It’s there, now it’s up to all levels of government to get it flowing. Never again should we be left without the ability to generate domestic fuel supply, this is a generational opportunity to ensure we’re not left at the end of a global supply chain.
“National fuel security is about drilling, refining and storing fuel locally for refuelling family cars, transporting food, and harvesting crops.”
The state government has released a Taroom Trough Development Plan to streamline infrastructure delivery around the emerging oil province.
Deputy Premier and Minister for State Development Jarrod Bleijie says he has directed the Coordinator-General to prepare a Works Regulation under the State Development and Public Works Organisation Act 1971, giving the office oversight of planning and approvals coordination across the development area.
“Coordinated development in the Taroom Trough will increase domestic energy security, regional investment and job creation while providing certainty for approvals,” says Bleijie.
The Taroom Trough spans an area of the Surat Basin that the government says holds significant untapped oil reserves, with some estimates suggesting it could produce “hundreds of millions of barrels” of oil.
Minister for Natural Resources and Mines Dale Last says the Queensland Government wants to send a clear signal to the resources sector that it is willing to unlock the state’s oil production potential.
“My message to the explorers is simple - I’ll sign, you drill,” says Last.
“This could open up Australia’s first major oil province since the 1970s – we back the potential of the Taroom Trough and we’ll continue supporting it with approvals and certainty.
“We’ll play our part, but we’re asking the Federal Government to play their part under the National Interest Fast-Track Assessment Pathway.”
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