Australian LNG player has secured four new gas exploration permits in the Surat Basin east of Roma in Queensland.
Two of the permits are for domestic-only supply and two could supply both domestic and LNG markets, according to Santos.
Santos chief executive Officer Kevin Gallagher said these blocks offered “exciting” domestic and LNG development opportunities.
These blocks are close to existing infrastructure and adjacent to Santos-owned coal seam gas pilot activities.
“This means Santos will be able to get gas to market faster and at a lower cost of supply, which is the best way to put downward pressure on gas prices,” Gallagher said.
Besides Santos, the Queensland government also awarded permits to Denison gas to start exploring in the Bowen Basin.
The latest permits come on the back of more than 6700 square kilometres of land offered as part of a tender last week.
These permits are for gas exploration between Blackwater and Goondiwindi.
This land is located in regions that are already pumping gas as part of Queensland’s $70 billion onshore gas and LNG industry.