Isa Superbasin assessment begins
THE Federal Government has commissioned an independent assessment of the Isa Basin to determine whether it is a potential area for the safe extraction of gas.
The basin, in the northern part of the QLD and Northern Territory border, has been selected for its world-class petroleum source rocks, shale gas flows and its proximity to existing infrastructure.
Federal Resources minister Matt Canavan said the studies, conducted by Geoscience Australia and the CSIRO, will begin in early 2018.
“It is vital that we unlock our gas resources and bring more gas to market. By taking steps to unlock our gas reserves, we will help put downward pressure on gas prices,” Mr Canavan said.