The Crisafulli Government has awarded exploration rights in the Taroom Trough, citing it has the potential to open up Australia’s first major new oil province since the 1970s. Omega TN Pty Ltd, Tri-Star Stonecroft Pty Ltd and Drillsearch Energy Pty Ltd (a wholly-owned subsidiary of Beach Energy) have been appointed as preferred tenderers to explore for gas and petroleum in the Taroom Trough, near Miles in South-West Queensland.
The 750 square kilometre exploration tenement – around the same size as Singapore - forms part of a wider package of exploration areas opened for tender last year, aimed at unlocking future energy supplies to put downward pressure on prices.