Queensland unlocks new gas exploration zones to boost supply and ease power prices

The Queensland Government has moved to strengthen the state's future energy security, unlocking major new gas exploration investment across a vast area near the Queensland-South Australia border.

Three new gas exploration areas in the Cooper-Eromanga Basin - covering a landmass almost three times the size of the ACT - have been awarded to Santos QNT Pty Ltd and Drillsearch Energy Pty Ltd, which were named preferred tenderers following a competitive process.

The releases form part of a broader Queensland Government land tender program designed to unlock future gas supply, support regional jobs and place downward pressure on energy prices for households and businesses.

The Crisafulli Government says the move provides the certainty needed to accelerate the next wave of energy investment, following years of stalled development that put thousands of regional jobs at risk.

Minister for Natural Resources and Mines Dale Last said the exploration approvals sent a strong signal that Queensland is open for business.

"This exploration investment sends a clear message that Queensland is serious about getting more gas into the system to relieve energy pressures," Minister Last said.

"Gas remains critical to our energy mix and to the industries that underpin regional economies. These exploration areas are a vital step toward delivering the supply needed to support investment, create jobs and ease energy pressures across the state.

"By appointing experienced explorers, we are laying the foundations for new production that will keep Queensland's resources sector strong well into the future."

Minister Last said further exploration areas were being prepared for release later this year to maintain a strong pipeline of projects and ensure long-term gas supply.

Santos Chief Operating Officer Australia and PNG Upstream Oil and Gas Brett Darley welcomed the announcement, saying the new acreage would unlock fresh opportunities for supply.

"We welcome the Queensland Government's leadership in releasing and awarding exploration acreage, which will help unlock new gas supply for Australian homes and businesses," Mr Darley said.

The Queensland Government has also released the results of industry consultation on its land release process, outlining reforms aimed at delivering a faster, more transparent tender system, clearer prioritisation of exploration areas and earlier engagement with local governments.