APPEA has welcomed the announcement by Queensland Resources Minister Anthony Lynham of a range of measures to support exploration as the industry confronts challenges associated with the COVID-19 pandemic.
These measures announced will provide for relief and flexibility to support explorers. It also encourages innovative exploration activities through a direct grant process.
The package provides companies with the ability to continue to operate now, and respond quickly when the health crisis abates, and Australia’s economy recovers.
APPEA Chief Executive Andrew McConville said this package would particularly help smaller exploration companies that continue to play a critical role in the identification and development of new energy resources.
“Successful exploration can deliver revenue for governments, jobs for workers and long-term energy security for Australia,” Mr McConville said.
“Current economic conditions have the potential to irreparably damage oil and gas exploration in Australia unless steps are taken to provide short term relief to allow companies to remain in business until the economy has moved through the worst of the downturn.”
Mr McConville said the Australian oil and gas industry is responding to the personnel and operational challenges posed by the COVID-19 pandemic to protect the health and safety of our workforce and host communities, while ensuring vital energy supplies are maintained.
Mr McConville thanked Dr Lynham and the Government for working with industry bodies including the QEC, APPEA, the Queensland Resources Council and AMEC in developing the package.