Media release: Taroom Trough exploration a boost for Qld energy security and regional investment

The Queensland Government’s decision to award exploration rights in the Taroom Trough marks a significant step toward unlocking a new frontier for domestic oil and gas development and reinforcing Australia’s long-term energy security.

The appointment of Omega TN Pty Ltd, Tri-Star Stonecroft Pty Ltd and Drillsearch Energy Pty Ltd (a subsidiary of Beach Energy) as preferred tenderers signals the start of exploration activity in a region widely recognised as having the potential to become Australia’s first major new oil province in a generation.

Australian Energy Producers Queensland Director Keld Knudsen said the announcement underscored the critical role of exploration in delivering future supply.

“Opening up new basins like the Taroom Trough is essential to securing Australia’s next wave of oil and gas supply,” he said.

“It sends a strong signal Queensland is open for business and serious about attracting the investment needed to support regional jobs and future energy security.

“The scale of the opportunity is significant, with the potential to establish Australia’s first major new oil province since the 1970s.

“New supply is key to putting downward pressure on prices and ensuring reliable, affordable energy for households and industry — with domestic supply protections ensuring Australians come first.”

Mr Knudsen said expanding exploration acreage was critical to offset natural field decline and sustain supply to key sectors including transport, agriculture, mining and manufacturing.

“New development in the Taroom Trough also had the potential to deliver long-term economic benefits for regional Queensland through jobs, local procurement and infrastructure investment,” he said.