Queensland starts tender of cash bids for CSG blocks

Queensland’s state government has begun its controversial program of cash bidding for coal seam gas blocks with the first two permits up for bids. Expressions of interest for competitive cash bidding tenders are scheduled to close Feb. 14, 2013.

Both blocks are in the Surat basin, one 8 km west of Miles and the other, 8 km southeast of Condamine.

Both areas are surrounded by existing petroleum exploration and production licenses and associated systems. The government believes the two blocks potentially contain some of the highest quality gas reserves in Queensland.

Preferred tenders will be recommended by an evaluation panel of senior officers from the state’s Department of Natural Resources and Mines, Projects Queensland and the Department of State Development, Infrastructure, and Planning.

Despite the move to cash bidding there will still be noncash land releases in greenfield and underexplored areas in the state.

Industry groups oppose the cash bidding system saying it will simply reduce the pool of funds that companies can devote to exploration. They add that it also is unclear how the various bids will be assessed and says it is important for there to be a high degree of transparency to obtain any bidder confidence in the process.

Related Articles

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/24/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

Statoil makes gas find on flank of Visund field in North Sea

03/24/2014 Statoil Petroleum AS has made a natural gas discovery on the northeast flank of Visund field in the northern part of the North Sea, the Norwegian P...

CNOOC makes natural gas discovery in Bohai Bay

03/24/2014 CNOOC Ltd. has made what it describes as a “mid-sized” natural gas discovery in the Bozhong 22-1 structure in the south-central region of Bohai Bay.

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected